The White House announced a new 50% tariff on a wide range of Canadian goods, including wine, cement, hockey equipment, dairy, and wigs, set to take effect in 30 days, according to N12. The tariff is based on a rarely-used penal clause from a nearly 100-year-old customs law, and Reuters notes the law's last use contributed to the Great Depression. The announcement follows the initial 50% tariff revealed earlier Tuesday and Prime Minister Carney's response.
The new tariff announcement provides specific details on the products affected and the legal basis for the 50% levy on Canadian goods. As reported by N12, the list includes wine, cement, hockey equipment, dairy products, swimming pools, furniture, fishing rods, seeds, clothing, and wigs. The administration invoked a rarely-used penal clause from a 1920s customs law, which Reuters noted last contributed to the Great Depression. The tariff takes effect in 30 days.
Earlier Tuesday, the initial 50% tariff was reported, and Prime Minister Mark Carney responded, saying the US 'changed all the trade relations that were agreed upon,' as The Zioneer covered. This latest announcement adds specificity to the escalating trade dispute between the US and Canada.
2 developments
- StrongCarney: US tariffs 'changed all trade relations' after 50% levy on Canadian goods
- StrongTrump renews threat of 100% tariff on European countries over digital services tax
- StrongTrump blames Canada for US air pollution, says costs should be added to tariffs
- DevelopingFederal appeals court lets Trump's 10% tariff stand during appeal
Source and signal
- Internal intake