Trump starts tariffs tuesday confirmed signed in rn.
Posted: Feb 01, 2025
- President Donald Trump imposed a 25% tariff on virtually all goods from Canada, starting a trade war against a longstanding ally.
- Senior Canadian officials confirmed the tariffs would take effect on Tuesday.
- Canada is preparing for retaliatory tariffs against the U.S.
- Trump's move could shrink the GDP of Canada significantly.
- The trade deficit between Canada and the U.S. is largely due to American demand for cheaper Canadian oil.
- Trump is ignoring data on trade deficits and seizing 25% tariffs against a potentially innocent ally.
- The trade war could have significant consequences for both countries' economies.
- Trump cites lax border control as a reason for imposing tariffs on Canada.
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