US President Donald Trump has announced a 35 percent tariff on imports from Canada, set to take effect on August 1. In a warning to Ottawa, Trump stated that any retaliatory action from Canada could result in even higher tariffs.
The decision was communicated in an open letter to Canadian Prime Minister Mark Carney, published on Trump’s social media platform, Truth Social.
“We are taking this step to protect American industry and jobs,” Trump wrote. “If Canada chooses to retaliate, the tariff will increase beyond 35 percent.”
Trump revealed that the tariff strategy is not limited to Canada. “We are restructuring our tariff policies. Not everyone will receive a letter, but those who have ignored American interests will face consequences,” he said.
The new trade policy has already extended to other US trading partners, including Japan, South Korea, and Brazil.
In Brazil’s case, the administration has announced a 50 percent tariff specifically on copper exports.
Experts view this move as part of Trump’s renewed “America First” trade approach, similar to his previous term in office. International economists warn that the escalation in trade protectionism could lead to further volatility in global markets.
