Donald Trump: "WE DON'T NEED CANADA, THEY NEED US!"

President Donald Trump announced on his Truth Social account that, beginning Jan. 1, 2027, the United States will raise tariffs on a suite of Canadian imports—including automobiles, trucks, vehicle components and steel—to 50 percent, citing long‑standing trade imbalances. He noted that current duties on U.S.‑bound cars and trucks sit at 25 percent under Section 232 of the Trade Expansion Act and that steel, aluminum and copper already face tariffs ranging from 10 to 50 percent. After bilateral talks failed to produce a settlement, the new rates were applied immediately, covering roughly $20 billion in Canadian goods—about five percent of U.S. imports—and items such as hockey sticks, furniture, honey and wine. In response, Canada’s government said it will impose matching tariffs on U.S. products starting Sept. 8.