- President Donald Trump has threatened Canada with a 35 per cent tariff on goods, citing concerns over Canada’s “failure to stop [fentanyl] from pouring into our Country.”
- Trump is using the 1977 International Emergency Economic Powers Act to justify the tariffs, despite former Canadian Prime Minister Justin Trudeau saying less than 1 percent of street fentanyl in the US comes from Canada.
- Trump has also announced plans for higher blanket tariffs, potentially 20 or 15 per cent, on most international trade partners.
- A new deadline of 1 August has been set for countries to negotiate new trade deals or face significantly increased tariffs.
- Trump has also imposed a 50 per cent tariff on imports from Brazil, citing anger over the treatment of ousted president Jair Bolsonaro.
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