Canada on us tariff: Canadian Prime Minister Mark Carney has expressed concern over the new mutual tariffs imposed by the US. He believes that this policy of Donald Trump will change the global trade system. Although Canada and Mexico are exempted from these tariffs, 25 percent import duty will be applicable on some products.
The Donald Trump administration has questioned the role of Canada in preventing smuggling of migrants and Phentineiles in the US. For this reason, the US has retained the tariffs on Phentineel, Steel, Aluminum and Automobiles. The US has imposed a 25 % tariff on Canada on the items that do not fall under the USMCA Free Trade Treaty. However, the US is considering putting additional tariffs on pharmaceuticals, wood and semiconductor products. Because of this, America’s three largest business partners – Mexico, China and Canada – will be affected by this tariff policy.
What will change?
Trade experts believe that these tariffs will not only affect the US-Canada business relationship, but can also put a negative impact on the global supply chain.
Canada’s response
Canadian Prime Minister Mark Karney said that the tariff policy could affect economic cooperation between the two countries. He emphasized that the existing trade agreements may be amended. Donald Trump’s new economic policies are moving towards changing global trade equations. Countries like Canada have to adopt new strategies to deal with this situation.
26 percent tariff on India
The countries on which tariffs have been announced by the US. The name of India is also included in it. US President Donald Trump has announced a ‘concession counter duty’ of 26 percent widely on India. While making this announcement, he also mentioned the high charges levied by India on American products.
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