Canada, Trump and tariffs
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The pause on the biggest of Trump's tariffs won't end this week, as planned, but the problems they present still loom large.
Trump this spring imposed a 25% tariff on cars and car parts, including those from Canada. But certain cars and parts qualify for preferential treatment under the USMCA, meaning the 25% tariff applies only to the non-U.S. content of the automobile or part.
President Donald Trump announced a new set of duties on Canadian goods that were not covered by existing sectoral tariffs.
Prime Minister Mark Carney tried to temper expectations about a Canada-U.S. trade deal, telling reporters all of President Donald Trump's trade agreements have included tariffs.
US inflation heated back up in June, rising to its highest level in four months, as price increases — including those from tariffs — packed a bigger punch.
President Donald Trump and his supporters point to encouraging economic indicators to argue that concerns about his tariffs are overblown. Skeptics, however, say it’s too soon to declare that all’s well.
US stocks are little changed as investors shrug off more tariff threats from Trump. Investors await inflation data and earnings for direction.
The U.S. will soon notify a group of minor trading partners that they will face tariffs higher than 10%, President Trump said on Tuesday evening. “We’ll be releasing a letter soon talking about many countries that are much smaller,