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Canada to Lift Retaliatory Tariffs on Many US Products, Extending Olive Branch to Trump
Summary: According to reports, Canada will lift retaliatory tariffs on numerous American products that comply with the existing North American trade agreement, aiming to ease tensions with the White House. Canadian Prime Minister Mark Carney is expected to announce this decision on Friday after a cabinet meeting. Sources familiar with the matter, who requested anonymity, revealed ...
According to reports, Canada will lift retaliatory tariffs on numerous American products that comply with the existing North American trade agreement, aiming to ease tensions with the White House. Canadian Prime Minister Mark Carney is expected to announce this decision on Friday after a cabinet meeting. Sources familiar with the matter, who requested anonymity, revealed that the government will adjust tariff policies to align more closely with US measures.
This means that many American consumer goods will no longer face a 25% tariff when exported to Canada as long as they meet the terms of the USMCA. However, Canada may maintain a 25% import tariff on American steel and aluminum products, as well as tariffs on American cars. US President Trump has imposed tariffs on these industries. (Zhixin Finance)
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