Canada became the latest country to be slapped with increased tariffs by the Trump administration on Thursday. Starting August 1,
Canada became the latest country to be slapped with increased tariffs by the Trump administration on Thursday.
Starting August 1, the U.S. will impose a 35% tariff on its northern neighbor, President Donald Trump announced on his Truth Social platform on Thursday. Trump cited the trade deficit — which he called a threat to the U.S. economy and national security — as well as Canada’s role in fentanyl trafficking as reasons for the levies.
In February, Trump announced his first round of tariffs on Canada, as well as China and Mexico, to pressure them to do more to combat the flow of fentanyl into the U.S., which claimed the lives of over 76,000 Americans in 2023. On Thursday, Trump claimed Canada has failed to take sufficient action.
