The U.S. Court of Appeals for the Federal Circuit is considering the legality of "reciprocal" tariffs Trump imposed on U.S. trading partners.
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Canadian Prime Minister Mark Carney said he was disappointed after US President Donald Trump signed an executive order to raise tariffs on Canadian goods to 35% from 25% on products outside the scope of the U.S.-Mexico-Canada trade agreement.
The move, which Washington linked in part to what it said was Canada's failure to stop
fentanyl smuggling, is the latest salvo in Trump's months-long tariff war initiated soon after taking power.
US duties and tariffs will heavily affect lumber, steel, aluminum, and automobiles, Carney said in a post on X, vowing action (???) to protect Canadian jobs, buy its goods, invest in industrial competitiveness and diversify export markets.
To justify its step, the U.S. has cited the cross-border flow of
fentanyl, even though Canada accounts for just 1% (I think 1% is significantly rounding up) of U.S. fentanyl imports and has been working intensively to further reduce the volumes, Carney added. Oh well…
President Donald Trump on Thursday announced a 90-day extension of his tariff deadline for Mexico to allow more time for negotiations on a longer-term trade agreement.
“We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time, namely, that Mexico will continue to pay a 25% Fentanyl Tariff, 25% Tariff on Cars, and 50% Tariff on Steel, Aluminum, and Copper,”
Trump wrote on Truth Social.“We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal somewhere within the 90 Day period of time, or longer.” (???)
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Trump issued a
separate order for Canada that raises the rate on Canadian goods subject to
fentanyl-related tariffs to 35%, from 25% previously, saying Canada had "failed to cooperate" in curbing illicit narcotics flows into the U.S.
The higher tariffs on
Canadian goods contrasted sharply with Trump's decision to grant Mexico a 90-day reprieve from higher tariffs of 30% on many goods to allow time to negotiate a broader trade pact.
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U.S. President Donald Trump's latest wave of tariffs on exports from dozens of trading partners, including Canada, Brazil, India and Taiwan, sent global markets tumbling on Friday as countries pushed for talks to clinch better deals.
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