Trump, Tariffs and Hit Multiple
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The prime minister pledges to diversify its trading partners away from the US and prioritise the use of Canadian steel.
After long insisting that Canada could avoid Trump tariffs through talks, Mark Carney now says that is unlikely for any nation.
Canadian Prime Minister Mark Carney on Wednesday said that Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry.
Almost half — 49% — of Ontario automotive businesses have paused or canceled investments because of the trade tensions.
President Trump announced a slew of tariffs on imports last week, with a proposed 35% tariff on Canadian goods, including in the automotive sector, which could deeply affect American drivers. Trump announced the tariffs on Truth Social with screenshots of a letter sent to Canada’s prime minister,
President Donald Trump published a letter to Prime Minister Mark Carney on Thursday, accusing Canada of having "financially retaliated" against the U.S.
Canadian consumer prices accelerated for the first time in four months and underlying price pressures firmed, likely keeping the central bank from cutting interest rates later this month.
President Trump has taken an unconventional approach to trade negotiations by sending form letters to foreign leaders.