U.S. inflation Rose to 3% in September, less than expected
US President Donald Trump has announced that he has halted all trade negotiations with Canada in protest at political ads that criticized tariffs.
"THUS, ALL TRADE NEGOTIATIONS WITH CANADA ARE TERMINATED," Trump wrote in a post on social media late on October 23.
Trump said the advertisement, in which former President Ronald Reagan speaks negatively about tariffs, was an attempt to interfere with the pending decision of the U.
S. Supreme Court on the legality of tariffs.
Canada was one of the first targets of Trump's tariffs after his return to power. Imports to the United States from Canada are subject to a duty of 35%, with separate duties on imported cars, auto parts, steel and aluminum.
In practice, imports from Canada are taxed at the lowest rates among the leading U.
S. trading partners, as the bulk of trade is exempt from duties under the terms of the free trade agreement between the United States, Mexico and Canada. Trump's tariffs also do not apply to energy.
Earlier this month, the Canadian government said it hoped to reach quick trade agreements on steel, aluminum and energy after a meeting between Trump and Canadian Prime Minister Mark Carney.
The U.
S. Supreme Court has scheduled a hearing for November 5 to review lower court rulings on whether Trump exceeded his authority in imposing emergency tariffs on most U.
S. imports.
Author: Kevin Foster