A 50% tariff on autos and parts from Canada would punish U.S. companies.
There he goes again. President Trump on Monday raged against Canada on the social-media heath, threatening it with 50% tariffs on autos and auto parts. What does he have against U.S. car makers?
Mr. Trump is angry that Canadian Prime Minister Mark Carney over the weekend vowed to retaliate dollar-for-dollar against his latest tariff barrage. “Canada has been ripping off the United States of America for years,” Mr. Trump wrote. “On January First, 2027, Tariffs on all Cars, Trucks, both large and small, Automotive Parts, and Steel, will be increased to 50%.”
I wouldn't be surprised that Carney and Trump are in cahoots over this. Trump's tariffs will cause economic damage to the US. Carney's counter-tariffs will cause even more economic damage to Canada. Now, I know what Carney's endgame is. He wants to align Canada with China and make it the country's new senior partner, replacing the US. What Trump thinks he's going to get is a mystery.
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