💨 Abstract

President Donald Trump announced plans to increase taxes on imports from Canada to 35%, escalating tensions between the two nations. This move follows a 25% tariff imposed in March, allegedly to pressure Canada on fentanyl smuggling and trade deficits. Canada, led by Prime Minister Mark Carney, has pushed back and sought stronger ties with the EU and UK. Trump's tariff policy has been criticized for its unpredictability, affecting global trade and financial markets.

Courtesy: WTOP Staff