dinero_admin President Donald Trump has declared a new trade offensive, announcing a 35% tariff on Canadian imports. The move, effective august 1, 2025, reignites significant tensions with the United States’ northern neighbor, marking a shift in global economic policy.
The decision was released by Trump on his Truth Social platform, where he shared a letter addressed to Canadian Prime Minister Mark Carney. In the missive, Trump justified the action by arguing that Canada had responded with its own tariffs instead of cooperating, escalating the dispute. Furthermore, he warned the prime minister that if his country raises tariffs in turn the figure they choose will be added to the 35% announced.
In addition to the specific tariff against Canada, Trump revealed plans to impose general tariffs of 15% or 20% on most of his trading partners. These statements, made in a phone call with NBC News, suggest a profound reconfiguration of international trade relations under his possible future administration.
The President dismissed concerns about the potential negative impacts of these new tariffs on the stock market or inflation. On the contrary, Trump stated that the tariffs have been “very well received”, even signaling a new all-time high in the stock market on the day of the announcement.
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