US President Donald Trump has announced a 35% tariff on goods coming from Canada, starting August 1. This decision follows his earlier announcement on June 28 when he said that he was ending trade talks with Canada. Trump also said that the tariffs could change depending on how the relationship between the two countries develops. He hinted that if Canada helps stop the flow of fentanyl into the US, he might consider changing the tariff decision.
“As you will recall, the United States imposed Tariffs on Canada to deal with our Nation’s Fentanyl crisis, which is caused, in part, by Canada’s failure to stop the drugs from pouring into our Country. Instead of working with the United States, Canada retaliated with its own Tariffs,” Trump’s letter read.
Trump made it clear that the new tariff will be implemented on all Canadian products entering the US and that this will be separate from any existing sector-specific tariffs. He cautioned that companies attempting to avoid the new rates would have to deal with penalties. “Goods transhipped to evade this higher tariff will be subjected to that higher tariff,” he further stated.
Here’s a full country-wise list of Trump’s tariffs:
| Country | Tariff Rate |
|---|---|
| Algeria | 30% |
| Bangladesh | 35% |
| Bosnia and Herzegovina | 30% |
| Brazil | 50% |
| Brunei | 25% |
| Cambodia | 36% |
| Indonesia | 32% |
| Iraq | 30% |
| Japan | 25% |
| Kazakhstan | 25% |
| Lao People’s Democratic Republic | 40% |
| Libya | 30% |
| Malaysia | 25% |
| Moldova | 25% |
| Myanmar | 40% |
| Republic of Serbia | 35% |
| Republic of Tunisia | 25% |
| South Africa | 30% |
| South Korea | 25% |
| Sri Lanka | 30% |
| Thailand | 36% |
Trump threatens more tariffs if…
In his tariff letter to Canada, Trump also highlighted trade restrictions faced by American dairy farmers. He said that Canada levied duties “up to 400%’” on US dairy products, adding that even access to the Canadian markets continues to be tough. He further warned that any retaliatory action from Canada would be equally matched.
“Whatever the number you choose to raise them by, will be added onto the 35% that we charge.’’ Trump concluded the letter by saying that the US trade imbalance is a ‘’major threat to our economy and indeed, our national security.’’
Meanwhile, in an interview with NBC News, Trump mentioned that other countries would soon face tariffs from 15% to 20%, stating, ‘’All of the remaining countries are going to pay.’’
The US President had on Wednesday announced a 50% tariff on copper imports into the country. He also warned that if certain conditions aren’t met, the US could impose a 200% tariff on pharmaceutical imports after one year.