Canada on Sunday imposed retaliatory tariffs on $12.5 billion worth of U.S. exports, the latest in a series of escalating trade conflicts between the Trump administration and top U.S. allies.
The new duties come after the Trump administration ended Canada's exemption from the U.S. tariffs on steel and aluminum imports. The European Union recently imposed its own retaliatory tariffs, targeting specific products like bourbon to put political pressure on GOP leaders. Kentucky, represented in the Senate by Majority Leader Mitch McConnell, the top producer of bourbon.
Along with new steel and aluminum tariffs, President Trump has threatened to impose as much as $500 billion in new tariffs on China and is considering a 25 percent tariff on automotive imports.
U.S. businesses are becoming more vocal in their opposition to the Trump administration's trade agenda. Harley-Davidson said it is shifting some production overseas and General Motors said new tariffs on automobiles could force the company to lay off workers.
The U.S., Canada, and Mexico are currently in the midst of negotiations to revamp the North American Free Trade Agreement. Trump told Fox News on Sunday that any new deal would not be reached until after the 2018 midterm elections.
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04.27.2025