Canada imposes tarifs on us auto imports: Reacting strongly to the recently implemented mutual tariffs by US President Donald Trump, Canada announced on Thursday that it would impose 25% tariffs on some American auto imports.
According to the AFP report, Prime Minister Mark Carney has confirmed that 25% tariffs will be imposed on all vehicles imported from the United States, which do not follow CUSMA rules. CUSMA’s full name is the Canada-United States of America-Mexico Agreement. It is a current free trade agreement of North America, designed to make trade between these three countries easier.
Canada’s retaliation
Canada has taken this step in response to the tariff imposed by Donald Trump, which has increased trade tension between the two countries. Prime Minister Mark Carney described this action of Canada as balanced and concentrated, which aims to create more obstacles in business. However, he did not clarify how many vehicles would be affected by the new tariff of Canada. Canada took this decision when the US announced a 25% tariff on foreign auto imports a few days ago. The US claims that this will boost domestic manufacturing and increase the production of $ 100 billion every year.
Announcing the fees, Donald Trump said he hoped that this would speed up American factories and end the ridiculous supply chain extending to the US, Canada and Mexico. Trump believes that the auto import duty is an important policy of his presidential tenure. They hope that the extra cost will increase production in the US and the budget deficit will be reduced.
Trump put heavy tariffs on many countries
US President Donald Trump on Wednesday announced a mutual tariff on several countries during an event at Rose Garden in the White House. These tariffs range from 10% to 49%. The tariffs imposed on some countries are as follows:
- India – 26%
- China – 34%
- Vietnam – 46%
- Britain – 10%
- Cambodia – 49%
- South Korea – 25%
Trump described this day as Mukti Day (2 April) and said, “American taxpayers were being cheated for the last 50 years, but now it will not happen.”