President Trump has announced that he is raising tariffs on select Canadian imports from 25% to 35%. The Canada-United States-Mexico Agreement (CUSMA) exemption remains in effect.
Canadian Prime Minister Mark Carney has warned in recent days that the talks were difficult, and it might not be possible to formalize a deal by August 1. The Canadian leader said in a statement that the government was disappointed with situation, but because of the CUSMA the U.S. rate on Canadian goods “remains one of its lowest for all of its trading partners.”
SOURCE: Reuters
