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U.S. president says separate 25% levy on all foreign-made autos will still hit at midnight
Trump outlines sweeping tariff plan, says shift will drive U.S. growth
President Donald Trump says the U.S. is moving forward with sweeping tariffs, with a base rate of 10 per cent for many countries — and much higher levies for some countries. CBC News brings you the latest on Trump’s plan, and explores what the latest tariff news means for Canada.
The Latest
• The U.S. president said he will impose a 10 per cent baseline tariff on all imports to the United States that aren’t compliant with CUSMA.
• While Canada and Mexico are spared from those “reciprocal” tariffs, other levies that were previously announced are still on the table.
• Trump said a separate 25 per cent auto tariff will take effect at midnight.
• Another 25 per cent tariff on Canadian steel and aluminum is still expected.
After showing a chart listing the various tariff percentages he will be charging some countries — Canada and Mexico were not on the chart — U.S. President Donald Trump said there would be a 10 per cent ‘minimum baseline’ tariff on goods from foreign countries.
As the U.S.’s closest trading partners waited with bated breath, amid an unclear, game-show-style announcement from Trump, the details were completely murky.
We now have some clarity. Canada and Mexico were not on today’s target list for so-called “reciprocal tariffs.” But the two countries remain subject to a hodgepodge of previously announced tariffs.
The White House just released a fact sheet clarifying that North America is still covered by the Swiss cheese of tariff policies announced in recent weeks.
This includes a 25 per cent tariff on goods not traded under the rules of the Canada-U.S.-Mexico pact, as a result of Trump’s so-called fentanyl tariffs. There’s a 10 per cent tariff on certain other non-compliant energy products and potash.
Still, the White House statement is vague on other details — including existing tariffs on autos, steel and aluminum, which significantly affect Canada. Awaiting details there.
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