Trump raising tariffs on Canada to 35%, extends deadline for Mexico | LiveNOW from FOX
The White House says President Donald Trump on Thursday signed an executive order raising tariffs on Canadian goods from 25% to 35% on all products not covered by the U.S.-Mexico-Canada trade agreement."Today, President Donald J. Trump signed an Executive Order increasing the tariff on Canada from 25% to 35%, with the higher tariff set to go into effect on August 1, 2025.
-Shortly after returning to office, President Trump declared a national emergency under the International Emergency Economic Powers Act (IEEPA) to address, among other things, the public health crisis caused by fentanyl and illicit drugs flowing across the northern border into the United States.
-Canada has failed to cooperate in curbing the ongoing flood of fentanyl and other illicit drugs, and it has retaliated against the United States for the President’s actions to address this unusual and extraordinary threat to the United States.
-In response to Canada’s continued inaction and retaliation, President Trump has found it necessary to increase the tariff on Canada from 25% to 35% to effectively address the existing emergency.
-Goods qualifying for preferential tariff treatment under the United States-Mexico-Canada Agreement (USMCA) continue to remain not subject to the IEEPA Canada tariffs.
-Goods transshipped to evade the 35% tariff will be subject, instead, to a transshipment tariff of 40%."
Meantime, Trump also announced Thursday a 90-day extension of a prior trade deal with Mexico ahead of Friday's deadline.
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