After the confusion of the American rates, Canada now comes with a return transport – and also announces in an amount of 25 percent.
“Just like you, I do,” the leadership of Canada will have thought after the sensational speech by US President Donald Trump. The rates imposed by Canada concern all vehicles imported from the US, which are not covered by the North -American USMCA Free Trade Agreement of 2020, placed from Canada’s Prime Minister Mark Carney on Thursday. This includes ten percent of the car imports from the US – this corresponds to around 67,000 vehicles per year.
Given the American customs policy, Carney spoke about a tragedy: Trump’s trade war will “tear the world economy,” he said. The system of global trade, which Canada has risen since the end of the Second World War, is history.
Canada was largely spared from the global American rates announced on Wednesday because of the USMCA agreement. At the beginning of February, Trump had ordered a rate with a flat rating from 25 percent to the entry from the two neighboring countries. He justified the punitive rates with the accusation that both countries did not take enough against the smuggling of the drug fentanyl and against irregular immigration to the US.
In the following weeks there was a back and forth in these rates, but many Canadian products have been in the import of 25 percent since March.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
