Trump has hit Canada with a 35% tariff rate:
- up from the current two-tiered rate of 10% and 25%
- letter does not specify whether current exclusions for USMCA-compliant trade will be extended
- separate from sectoral levies
- may lower rate if Canada works with US on stopping fentanyl
- rate may move up ro down depending on US-Canada relations
- start date is August 1
Still time for TACO I guess, but not much.
This article was written by Eamonn Sheridan at www.forexlive.com.
