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Canada Faces 10% Tariffs Amid Forced Labor Concerns

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CAD
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US President Donald Trump's administration imposed new tariffs of 10% on most Canadian imports, citing forced labor concerns. The move affects around 28 billion Canadian dollars' worth of goods annually, or about 5% of Canada's total exports to the US.

The Prime Minister Mark Carney confirmed that Canada is considering all available options to protect its economy and trade interests. He stated that 'all options are on the table' if no agreement is reached, but emphasized that taking retaliatory measures before negotiations end would be premature and could hinder chances of reaching a settlement in the coming weeks.

Canada has banned the import of goods produced by forced labor, as per the North American trade agreement. However, Washington considers Canada's enforcement insufficient, with only a limited number of shipments detained or blocked at the Canadian border.

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