President Donald Trump said on Saturday that he plans to hike tariffs on imports of Canadian goods by an extra 10 per cent because of an anti-tariff television ad aired by the province of Ontario.
The ad used the words of former President Ronald Reagan to criticise US tariffs, angering Trump who said he would end trade talks with Canada. Ontario Premier Doug Ford said he would pull the ad after the weekend, and it ran Friday night during the first game of the World Series.
Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD, Trump said in a post on his Truth Social platform as he flew aboard Air Force One to Malaysia.
"Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now.
It was not immediately clear when the 10% hike would come into effect, nor whether it would apply to all Canadian goods.
Canada's economy has been hit hard by Trump's tariffs, and Canadian Prime Minister Mark Carney has been trying to work with Trump to lower them. More than three-quarters of Canadian exports go to the US, and nearly $3.6 billion Canadian ($2.7 billion US) worth of goods and services cross the border daily.
Many Canadian products have been hit with a 35% tariff, while steel and aluminum face rates of 50%. Energy products have a lower rate of 10%, while other goods covered by the US-Canada-Mexico Agreement are exempt. That trade agreement is slated for review. Trump negotiated the deal in his first term, but has since soured on it.
Trump and Carney will both attend the Association of Southeast Asian Nations summit in Malaysia. But Trump told reporters traveling with him that he had no intention of meeting Carney there.
Trump said the ad misrepresented the position of Reagan, a two-term president and a beloved figure in the Republican Party. But Reagan was wary of tariffs and used much of the 1987 address featured in Ontario's ad spelling out the case against tariffs.
Trump has complained the ad was aimed at influencing the US Supreme Court ahead of arguments scheduled for next month that could decide whether Trump has the power to impose his sweeping tariffs, a key part of his economic strategy.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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