U.S. to impose 35% tariffs on Canada

 

U.S. to impose 35% tariffs on Canada

The United States has imposed a 35% tariff on Canada. Additional import duties will apply if the product is imported into the United States. The decision will be effective from August 1 this year. CNN reported.

US President Donald Trump wrote a letter to Canadian Prime Minister Mark Carney. He said Canada had failed to prevent the spread and trafficking of the painkiller fentanyl as a drug. That's why this decision has been taken. However, if Canadian companies set up production or factories in the United States, their products will not be subject to tariffs.

Canada is the largest buyer of U.S. exports. Ottawa imported $349 billion worth of goods from the country last year. On the other hand, the country exported $413 billion worth of goods to the United States.

Earlier, US President Donald Trump sent a letter announcing new tariffs on 14 countries, including Bangladesh. A 35% tariff on goods entering the United States from Bangladesh will go into effect on August 1.