Trump Slaps Tariffs on Dozens of Countries, Including Canada
US President Donald Trump has imposed new tariffs on dozens of countries, including Canada. The tariffs range from 10 to 12.5% and are part of a continuing effort by Mr. Trump to construct a wall of protectionist tariffs around the US economy.
The Section 301 tariffs will replace temporary tariffs that were due to expire on Friday. These measures are being imposed under Section 301 of the Trade Act of 1974, ostensibly because other countries are not taking sufficient action to crack down on goods produced by forced labor.
Canada's tariff rate would inch closer to Vietnam's under threatened US levies, according to Matthew Holmes, chief of public policy at the Canadian Chamber of Commerce. He stated that Ottawa is already fighting back against forced labor and that the timing of the new tariffs was 'suspect.'