Trump Threatens Higher Tariffs on Canada
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Canada’s unemployment rate drops slightly
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Six Republican Congress members callously urged Canada to take “proper action” to mitigate smoke wafting into the U.S.
Donald Trump surprised markets late Thursday with a letter announcing a 35% tariff on Canadian goods, but some notable industries such as energy could get some relief from the new threat.
The 35% level would be one of a range of tariffs on the U.S. ally, some of which are already in place, while others have been threatened and then walked back.
Warnings were issued for southern Ontario and southwest Quebec as hot and humid weather is expected to linger through Thursday.
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Canada would bear the brunt of Trump's tariffs in terms of economic contraction, says The Budget Lab of Yale.
White House trade adviser Peter Navarro encouraged Canada to continue negotiating with the US to lower trade barriers after President Donald Trump announced a 35% tariff on the North American neighbor.