On Thursday, the U.S. President Trump raised tariffs on Canadian imports from 25% to 35%, citing drug smuggling concerns, a claim dismissed by Canadian Prime Minister Mark Carney, who vowed to protect jobs during rising trade tensions.
The White House linked this decision partly to Canada’s alleged failure to stop fentanyl smuggling, though Canadian Prime Minister Mark Carney dismissed the claim, stating, “Canada accounts for just 1% of U.S. fentanyl imports and is working intensively to reduce these volumes.”
Carney expressed disappointment with the tariff hike, writing on X that “while we will continue to negotiate with the United States on our trading relationship, the Canadian government is laser focused on what we can control: building Canada strong.”
He warned that sectors such as lumber, steel, aluminum, and automobiles would be hardest hit but pledged to “protect Canadian jobs, buy Canadian goods, invest in industrial competitiveness, and diversify export markets.”
Ontario Premier Doug Ford, whose province generates about 40% of Canada’s GDP, demanded a strong countermeasure, calling for a 50% tariff on U.S. steel and aluminum imports.
Ford urged, “Canada shouldn’t settle for anything less than the right deal. Now is not the time to roll over. We need to stand our ground.”
Despite the escalation, Trump told that he remains open to talks with Canada and may speak with Carney soon. The U.S. also granted Mexico a 90-day extension to negotiate a deal and avoid similar tariff hikes.
Economists note Canada’s economy has shown resilience amid the tariffs and is expected to avoid recession.
Canadian exports to the U.S. have dropped slightly, with many companies diversifying their markets and increasing USMCA compliance, which currently exempts about 90% of Canadian exports.
Tensions have also been fueled by Canada’s recognition of Palestinian statehood, a move Trump criticized as making a future trade deal 'very hard' to achieve.
Iranian President Masoud Pezeshkian has called for greater economic cooperation among Muslim countries, saying their combined economic weight remai...
Kremlin Spokesperson Dmitry Peskov has dismissed media reports that CIA Director John Ratcliffe visited Moscow ear...
Thousands of Russians are hunting for apartments in Tbilisi and Yerevan - not because of a mobilisati...
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Rescuers in Nepal used helicopters on Thursday to scour for hundreds still missing after a wall of mud and rock collapsed into a river on the Himalayan border with China's Tibet, sending catastrophic floods through towns and valleys, killing 162 people.
Secretary of State Marco Rubio told allied foreign ministers Washington will focus on sanctions and other pressure on Iran “for the time being”, Axios reports. Meanwhile, Iran and Oman have resumed talks on a temporary shipping route through the Strait of Hormuz.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Iranian President Masoud Pezeshkian has called for greater economic cooperation among Muslim countries, saying their combined economic weight remains disproportionately small compared with their population, strategic location and resources.
Kremlin Spokesperson Dmitry Peskov has dismissed media reports that CIA Director John Ratcliffe visited Moscow earlier this week to warn Russia against attacking NATO, dismissing them as "scare stories," which had nothing to do with reality.
Thousands of Russians are hunting for apartments in Tbilisi and Yerevan - not because of a mobilisation order that's been signed, but because of one many fear is coming.
Poland has asked the European Commission to impose a €250 million ($291.3 million) fine on Meta, accusing the technology company of failing to adequately tackle fraudulent advertisements on its platforms.
Ratko Mladić, the former Bosnian Serb military commander convicted of genocide for his role in the 1995 Srebrenica massacre, has died, according to a United Nations official.
A glacial collapse that triggered catastrophic flooding along the Nepal-Tibet border on Wednesday has killed at least 270 people, with more than 1,000 still missing. Here are some of the most devastating glacier-related disasters recorded around the world:
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment