The United States is preparing to give Canada a specific tariff rate on April 2, and then give the country the opportunity to avoid the levies by lowering its own tariffs or addressing the administration’s concerns, according to U.S. Treasury Secretary Scott Bessent.
During an interview with Fox News on March 18, Bessent said each nation will be given its own tariff rate, which could be “quite low” or “quite high” depending on the country and its trade practices.
“We are going to go to them and say, ‘Look, here’s where we think the tariff levels are, non-tariff barriers, currency manipulation, unfair funding, labour suppression, and if you will stop this, we will not put up the tariff wall,’” he said….