Trump Escalates Trade War: Tariffs on Canada, Copper, and Brazil Set to Spike August 1!

President Trump ratcheted up his trade war by announcing a 35% tariff on Canadian imports, up from the 25% tariff he imposed on that country in March. He warned that the levy could increase if Canada retaliates with increased tariffs on U.S. imports. In a letter sent to Canadian Prime Minister Mark Carney, Trump accused the country of retaliating “instead of working with” the United States to come to a deal. The new tariff is set to begin Aug. 1. In other tariff news, Trump announced a 50% tariff on copper imports effective Aug. 1. He previously announced a general 50% tariff on steel and aluminum imports. Finally, the president announced a 50% tariff on Brazilian imports to begin Aug. 1.