The trade war between the United States and Canada is getting tougher every day. And from the tariffs between the two major North American economies, now former allies, come tensions in the markets and further difficulties for consumers, including Americans.
Read more B-CAD brings the construction site of the future to the Cloud
Ask the Sun
The questions are automatically suggested by 24Ore AI
based on the content viewed.
U.S. tariffs on all cars, trucks, automotive components, and steel imported from Canada will rise to 50% starting January 1, 2027: this was announced yesterday by Donald Trump in a social media post, fueling the escalation triggered by the breakdown of trade negotiations last weekend. And after already introducing 50% tariffs on about 20 billion dollars worth of Canadian goods: building materials, plastics, alcohol, dairy products, furniture, appliances, clothing, fishing rods, and hockey sticks.
“Produce in the United States and there will be no tariffs. Canada has always been treated as if it were part of the U.S., but that will no longer be the case,” Trump wrote. “Canada,” added the American president, “is among the worst countries in the world to deal with. They feel entitled to everything, yet we do not need Canada, they need us!”
Read more “Economic D-Day” against Iran: on sanctions Bessent also threatens China
Canadian Prime Minister Mark Carney had refused a deal with the U.S., explaining that “the United States wants everything and offers nothing.” He had announced “heavy countermeasures, starting in September, to respond dollar for dollar to American tariffs.” Trump did not want to wait and has already raised the stakes: “Canada,” accused the U.S. president, “has been robbing the United States of America for years. Their absurdly high tariffs on our farmers and agricultural products have made life impossible for these great American patriots and have long caused a 60 billion dollar deficit between our two countries. An unsustainable situation, which we will now resolve!”
U.S. tariffs on car imports from Canada will be increased to 50%, from the current 25%, but applied only to the non-U.S. value portion. Imported steel is already subject to a 50% tax. American car manufacturers, whose industry is heavily integrated with the Canadian one, have privately expressed “much skepticism about the new measures” and have said they hope “this tariff threat will not materialize, as has happened in the past.”
