U.S. President Donald Trump said Monday that the United States will raise tariffs on Canadian cars, trucks, and auto parts to 50% starting Jan. 1, 2027, escalating a trade dispute with Canada after negotiations collapsed.
The announcement comes amid an escalating trade dispute after U.S.-Canada negotiations broke down over the weekend.
The proposed increase would double the current 25% U.S. tariff on Canadian automobiles and auto parts. Trump also included steel in his announcement, although Canadian steel is already subject to a 50% U.S. tariff.
The U.S. already imposed 50% tariffs on about $20 billion of additional Canadian goods, including wine, cement and hockey equipment, after the two sides failed to finalize a new trade agreement, according to CNBC.
Carney has pledged “dollar for dollar” retaliation against the U.S. tariffs imposed following the collapse of the trade talks, with Canadian countermeasures set to take effect Sept. 8.
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