President Trump has signed an executive order to raise the tariff rate on Canada from 25% to 35%, and the new tariffs will take effect on August 1.
The White House pointed out in a statement that the tax increase was “to deal with Canada’s ongoing inaction and retaliation”, and said that the president “determines it necessary to effectively respond to the current emergency situation by raising the tax rate.”
The White House also said the move is part of a series of recent tariff adjustments by the Trump administration. Previously, the White House also issued an executive order to reset the ” reciprocal tariff ” tax rate standards for some countries: Annex 1 of the executive order states that the country will apply individual tax rates, and if the country does not list, the 10% tax rate will be uniformly applied; if any country or region evades tariffs through third-place transshipment, its goods will be subject to a 40% transshipment tax.
According to CCTV News, on July 31 local time, US President Trump signed an executive order, determining the ” reciprocal tariff ” tax rate imposed on many countries and regions, with the specific tax rate ranging from 10% to 41%.
Trump (Photo source: Visual China)
Trump : Canada’s position on Palestine will not affect the conclusion of tariff agreement
According to CCTV News, on July 31 local time, US President Trump said that Canada’s position on Palestine will not affect the conclusion of the tariff agreement, and Canada must “pay a fair tax rate.” Trump said he has not spoken to Canadian Prime Minister Carney.
It is reported that the Canadian trade negotiation team is currently in Washington, and the official is tight-lipped about relevant details. Trump ‘s remarks suggest that the US-Canada tariff agreement is still in a state of uncertainty and Canada has not reached an agreement to avoid tariff hikes.
On July 30, local time, Canadian Prime Minister Carney said that if the West Bank governing body meets certain conditions, Canada will announce its recognition of the Palestinian State at the United Nations General Assembly held in September this year.
