U.S. President Donald Trump says he will slap a 25 per cent tariff on medium and heavy-duty truck imports, an announcement that comes just a day before he meets with Prime Minister Mark Carney.
Trump made the announcement in a post on his social media platform Truth Social saying the new tariff rate will begin Nov. 1.
Picture Courtesy: AP Photo/Mark Schiefelbein
The federal government will impose 25 per cent tariffs on U.S. goods worth $29.8 billion in retaliation for steel and aluminum tariffs the administration of U.S. President Donald Trump imposed today. All countries, including Canada, were hit Wednesday with 25 per cent tariffs on steel and aluminum imports into the United States — part of Trump's attempts to realign global trade.
After another chaotic day in Canada-U.S. relations, U.S. President Donald Trump dropped his threat to double tariffs on Canadian steel and aluminum imports after Ontario agreed to pause a surcharge on electricity exports. White House spokesman Kush Desai confirmed a 25 per cent tariff on steel and aluminum, with no exceptions, will go into effect for Canada and all other countries on Wednesday.
The "chaos" in the United States provides an opportunity for British Columbia to recruit more American doctors and nurses, the province's health minister said as she announced changes aimed at fast-tracking the recognition of their credentials. Josie Osborne said "now is the time" for U.S. health workers to make the move.
Premier Doug Ford says U.S. Commerce Secretary Howard Lutnick has committed to lowering U.S. President Donald Trump's tariff on Canadian aluminum and steel back to 25 per cent after Ontario agreed to pause a surcharge on electricity exports to the United States.
The British Columbia Real Estate Association says tariff uncertainty has slowed housing activity. A board report says there were 4,947 residential sales in the province last month, down 9.7 per cent from the same time last year.
Stock markets are plunging, consumers and businesses have started to sour on the economy, and economists are marking down their estimates for growth this year, with some even seeing rising odds of a recession. The tech-heavy Nasdaq stock index slipped into a correction last week, defined as a 10% drop from its most recent peak. The broader S&P 500 neared that level Tuesday.