In a surprising move, US President Donald Trump announced the immediate termination of all trade negotiations with Canada. This decision, shared on his social media platform, Truth Social, stems from a recent advertisement that featured former President Ronald Reagan criticizing tariffs, which Trump deemed unacceptable.
On Thursday evening, Trump expressed his discontent with Canada’s actions, stating, “Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.” This bold statement signals a significant shift in the United States' approach to trade relations with its northern neighbor.
As part of his trade strategy, President Trump has imposed a 35% levy on Canadian imports. However, certain goods that qualify under the USMCA (United States-Mexico-Canada Agreement) are exempt from these tariffs. The USMCA, which Trump negotiated during his first term, was designed to promote fair trade practices among the three nations.
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