{"id":14783,"date":"2025-07-11T08:09:29","date_gmt":"2025-07-11T08:09:29","guid":{"rendered":"https:\/\/infundpros.com\/?p=14783"},"modified":"2025-07-11T08:09:31","modified_gmt":"2025-07-11T08:09:31","slug":"donald-trump-threatens-new-tariffs-on-canada","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=14783","title":{"rendered":"Donald Trump threatens new tariffs on Canada"},"content":{"rendered":"<div>\n<p>Unlock the White House Watch newsletter for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\">Your guide to what Trump\u2019s second term means for Washington, business and the world<\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=18a007c2-b945-4c6e-8f1d-d10e094f8c6d&amp;newsletter-id=65b8fec772badb00166eafc6\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Donald Trump has said the US will impose a 35 per cent tariff on Canada at the start of August as he launches a fresh salvo against one of the country\u2019s largest trading partners.<\/p>\n<p>The US president sent a letter to Canada late on Thursday, following an interview in which Trump warned EU nations to expect a tariff announcement targeting the bloc \u201ctoday or tomorrow\u201d. He said countries that had not received a letter from him would face tariffs of 15-20 per cent.<\/p>\n<p>\u201cWe\u2019re just going to say all of the remaining countries are going to pay, whether it\u2019s 20 per cent or 15 per cent. We\u2019ll work that out now,\u201d Trump told NBC News. Trump\u2019s \u201creciprocal\u201d tariffs are currently set at 10 per cent.<\/p>\n<p>An administration official said the tariffs on Canada would \u201clikely\u201d be waived for goods that complied with the terms of Trump\u2019s 2020 trade agreement with Canada and Mexico, but said \u201cno final decisions\u201d had been made. Such an exemption could significantly blunt the damage of the higher tariff.<\/p>\n<p>The interventions marked the latest twist in a turbulent week in which Trump has escalated his global trade war, threatening tariffs on more than 20 countries, along with imminent levies of 50 per cent on copper. <\/p>\n<p>The president cited the lack of a big, adverse market reaction to the latest round of tariffs, after US equities closed at record highs on Thursday. \u201cI think the tariffs have been very well received. The stock market hit a new high today,\u201d Trump told NBC.<\/p>\n<p>The Canadian dollar slid as much as 0.6 per cent against its US counterpart before paring losses to trade 0.3 per cent weaker. North American index futures edged down, with those tracking the US S&amp;P 500 and Canada\u2019s benchmark both down 0.2 per cent.\u00a0\u00a0<\/p>\n<figure class=\"n-content-image n-content-image--full\" data-component=\"image-set\"><picture><source media=\"(min-width: 700px)\"  width=\"3500\" height=\"2500\"><\/source><source media=\"(max-width: 490px)\"  width=\"1500\" height=\"2000\"><\/source><\/picture><\/figure>\n<p>Steep tariffs on Canada would have wide-ranging economic consequences. Trade between the two countries reached more than $760bn last year, according to US customs data. Many North American businesses have heavily integrated supply chains with parts for finished products, such as cars, often crossing the border repeatedly. <\/p>\n<p>Trump has given countries until August 1 to reach deals on tariffs. He had originally set a deadline of July 9 to reach agreement on the \u201cliberation day\u201d tariffs announced in April.<\/p>\n<p>Along with Mexico, Canada was one of the first countries Trump hit with tariffs after retaking office in January. He accused the US\u2019s closest neighbours of failing to control illegal migration and trade in the opioid fentanyl.<\/p>\n<p>Canada has had close to tariff-free trade on many goods, and a 25 per cent tariff on any products that do not comply with the US-Mexico-Canada Agreement. Canadian oil and energy products face a lower tariff of 10 per cent. <\/p>\n<p>The US\u2019s northern neighbour has also benefited from a carve-out on 25 per cent auto parts tariffs, but it has been hit by the full 50 per cent tariff on all steel and aluminium products. <\/p>\n<p>Trump\u2019s move heaps pressure on Canadian Prime Minister Mark Carney, who won a federal election in April on the promise that he would stand up to the US president and use his experience as a central bank governor to steer his country through the economic turmoil unleashed by tariffs. <\/p>\n<p>Trump\u2019s letter returns to his complaints about \u201cthe flow of fentanyl\u201d across the US-Canadian border, as well as Canadian treatment of US dairy.<\/p>\n<p>Late on Thursday, Carney posted on social media that the Canadian government would work towards a revised deadline of August 1. \u201cCanada has made vital progress to stop the scourge of fentanyl in North America,\u201d Carney wrote. <\/p>\n<p>Carney this month dropped a digital services tax that had attracted Trump\u2019s ire for targeting US technology companies, as the prime minister tried to smooth over trade tensions \u2014 prompting criticism from opponents. <\/p>\n<p>\u201cCarney gave up the pretence of standing up to Trump a while ago,\u201d said Dan Nowlan, who was an adviser in former Conservative prime minister Stephen Harper\u2019s government.<\/p>\n<p>A spokesperson for Carney declined to comment. <\/p>\n<p><em>Additional reporting by William Sandlund in Hong Kong<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/18a007c2-b945-4c6e-8f1d-d10e094f8c6d\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the White House Watch newsletter for free Your guide to what Trump\u2019s second term means for Washington, business and the world&#8230;<\/p>\n","protected":false},"author":1,"featured_media":14784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-14783","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Donald Trump threatens new tariffs on Canada | inFundPros<\/title>\n<meta name=\"description\" content=\"Unlock the White House Watch newsletter for freeYour guide to what Trump\u2019s second term means for Washington, business and the worldDonald Trump has said\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=14783\" \/>\n<meta property=\"og:locale\" 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