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Canada is the single-largest U.S. export destination among countries, with roughly $350 billion of American goods sent there last year, roughly 17% of total goods exports of just under $2.1 trillion.
The Canadian prime minister added that tariffs on 30bn-worth US goods would come into force on Tuesday and another 125bn in 21 days to give Canadian firms time to adjust.
It slapped identical tariffs on US aluminium and steel, and ensured the total dollar value of the American goods it taxed equalled the US tariffs on Canadian exports. That came up to around C$16 ...
A second list of goods was to be released soon, including passenger vehicles, trucks, steel and aluminum products, certain fruits and vegetables, beef, pork, dairy products, aerospace products and more. Those goods were estimated to be worth 125 billion Canadian dollars ($85 billion). “We can play the game all they want,” Trump said.
The trade relationship of the United States with Canada is the largest in the world.. In 2023, the goods and services trade between the two countries totaled $923 billion. U.S. exports were $441 billion, while imports were $482 billion, resulting in a United States $41 billion trade deficit with Canada. [1]
A 10 percent tariff on Canadian energy imports is expected to increase energy prices for American consumers, in part, because Canada is the biggest supplier of energy to the United States, including 61 percent of crude oil imports in 2021. [30]
Trump declared an economic emergency to place duties of 10% on all imports from China and 25% on imports from Mexico and Canada. Energy imported from Canada, including oil, natural gas and electricity, would be taxed at 10%. The tariffs on the United States’ three largest trading partners will go into effect on Tuesday.
(Reuters) -For North American companies, the "wait and see" moment on tariffs is over. U.S. President Donald Trump imposed a 25% levy on goods from Canada and Mexico, along with a 10% tariff on ...