News Analysis
Expectations of a trade deal with the United States being finalized this month were tempered by President Donald Trump’s threat of new tariffs on Canada.
In a possible sign the Canadian government may not have made enough concessions during negotiations, Trump said he would slap a 35 percent tariff on Canadian goods starting Aug. 1.
This week marked the end of a 90-day pause on Trump’s “reciprocal” tariffs announced in April. The move had caused a global markets crash.
Canada was spared given it already falls under Trump’s tariffs related to concerns with border security and drug trafficking. Those tariffs target goods with a 25 percent surtax and energy with 10 percent duties. Goods covered by the USMCA free trade deal are exempted….