The United States has announced that tariffs on Canada will increase from 25% to 35%, effective August 1.President Donald Trump made it official with an executive order on Thursday."In response to Canada’s continued inaction and retaliation, President Trump has found it necessary to increase the tariff on Canada from 25% to 35% to effectively address the existing emergency," the White House said, adding that goods that fall under the United States-Mexico-Canada Agreement will not be impacted.Additionally, goods "transshipped to evade the 35% tariff" will be subject to a transshipment tariff of 40%."Given Canada’s continued failure to arrest traffickers, seize illicit drugs, or coordinate with US law enforcement and Canada's retaliation against the United States for the President's actions to address the unusual and extraordinary threat to America," the statement continued, "further presidential action is necessary and appropriate to protect American lives and the national security and foreign policy of the United States."More to come...
