President Trump is raising Canada tariffs by 10% after an announcement on October 25. In a social media post, Trump said he would increase duties on Canadian imports due to a TV ad. The president will add the 10% to previously imposed tariffs, raising the total amount to 45% for certain goods. Canadian imports have been subjected to a 35% tax since August 1. The tariff increase will not affect importations that fall under the USMCA (United States-Mexico-Canada Agreement). Trump has not yet specified the scope of the latest raise and what goods will be affected. This article will explain Trump’s goal behind the tariff increase and its impact on shippers. Why Trump Is Raising Canada Tariffs By 10%? The 10% rise came after Canada aired a TV ad featuring former president Ronald Regan criticizing tariffs. Trump immediately responded by calling the advertisement a fraud and stating, “All trade negotiations with Canada are hereby terminated”. The Ronald Regan Presidential Foundation also issu...
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