Economy News – Update
A White House official has announced that U.S. President Donald Trump plans to impose an additional 25 percent customs duty on all imports of steel and aluminum. This increase, when combined with existing tariffs on Canadian commodities, would result in a total tariff of 50 percent on goods from Canada.
A government source indicated that Canada had not been previously informed about the planned assembly of these customs duties, describing the situation as “seems reasonable.”
This follows Trump’s earlier decision to implement a 25 percent tariff on the majority of Canadian imports, although these tariffs were suspended for 30 days last week.
On Monday, Trump executed decisions to increase U.S. customs duties on aluminum from 10 percent to 25 percent and to eliminate previous exemptions for certain countries and agreements, as well as numerous customs recognition exceptions for specific metal products.
The new duties, effective March 12, prompted a strong response from Canadian officials, with Prime Minister Justin Trudeau labeling the move as “unacceptable.”
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