US President Donald Trump has said that the United States will impose a 35 per cent tariff on imports from Canada next month and plans to impose blanket tariffs of 15 per cent or 20 per cent on most other trade partners. In a letter released on his social media platform, President Trump told Canadian Prime Minister Mark Carney that the new rate will come into effect on 1st of August and will go up if Canada retaliates.
In an interview with a TV news channel yesterday, the US President said other trading partners that had not yet received such letters will likely face blanket tariffs.
Mr Trump has broadened his trade war in recent days, setting new tariffs on a number of countries, including allies Japan and South Korea, along with a 50 per cent tariff on copper.
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