Trump Announces Urgent 10% Tariff Increase on Canada Now
UPDATE: President Donald Trump has just confirmed a significant 10% tariff increase on Canada, a move that escalates tensions between the two nations. Announced on October 28, 2023, via a post on Truth Social, this tariff hike comes as a direct response to a Canadian advertisement featuring former President Ronald Reagan criticizing tariffs.
In a bold statement, Trump labeled the ad “fraudulent” and accused Canada of a “hostile act.” The advertisement, which aired during the Major League Baseball World Series on Friday, included excerpts from Reagan’s 1987 speech on free trade. The backlash over the ad led Ontario Premier Doug Ford to declare that the ad would be paused after the weekend, following Trump’s announcement to withdraw from trade negotiations.
“This serious misrepresentation of facts compels me to increase the Tariff on Canada by an additional 10%,” Trump wrote, highlighting the urgency of the situation. The implications of this tariff increase are vast, affecting trade relations and potentially raising prices for American consumers on Canadian goods.
The ad, shared by Ford on his X account, aimed to shed light on the impact of tariffs on everyday Canadians, but it has instead sparked a fierce reaction from the U.S. administration. As trade talks came to an abrupt halt, representatives from the White House have yet to respond to inquiries about the situation.
This development is rapidly evolving, with both political and economic ramifications that could resonate across North America. The urgency of this tariff increase raises questions about the future of U.S.-Canada relations and what further actions may follow.
Stay tuned for more updates on this breaking news story as it develops.
