Canada, Donald Trump and Tariffs
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The Canadian Press on MSN3h
As Trump's trade deal deadline approaches, his tariffs face legal pushback in courtDonald Trump's plan to realign global trade faces its latest legal barrier this week in a federal appeals court — and Canada is bracing for the U.S. president to follow through on his threat to impose higher tariffs.
A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.
Trump is expected to meet with British Prime Minister Keir Starmer to discuss trade and refine a deal they announced in June to slash tariffs and expand market access between the two countries.
The possibility of a 30% tariff this week “is a game changer,” said Dante Galeazzi, CEO and president of the Texas International Produce
Canada is one of the United States' top trading partners, with more than $410 billion of goods crossing into the country last year.
The move injects fresh turmoil into a strained bilateral relationship as Prime Minister Mark Carney negotiates a new economic partnership with the United States.
Canada's retail sales shrank by 1.1% in May as consumers curtailed car purchases and spent less at supermarkets, convenience stores and on alcohol, data showed on Thursday.
Marco Rubio meets with Russian foreign minister amid tensions over Ukraine and Trump releases tariff letters to trading partners.