Trump signed an order raising tariff rate on Canada to 35%, from 25%, set to go into effect on August 1.
Heads up on this was earlier:
Trump on Canada 35% tariff “Didn’t like what Canada did on Palestinian state recognition”Prior to Trump US Com Sec Lutnick said 35% Canada tariff “surely in the cards”
White House:
Trump signed an executive order modifying reciprocal tariff rates for certain countriesTrump administration will continue to use all available tools to protect national securityTrump has determined that it is necessary and appropriate to modify the reciprocal tariff rates for certain countriesSays countries listed in Annex I of the executive order will be subject to the tariff specified thereinSays countries not listed in Annex I will be subject to a 10% tariffGoods transshipped to evade 35% tariff on Canada will be subject, instead, to a transshipment tariff of 40%
This article was written by Eamonn Sheridan at investinglive.com.