The US has increased the already implemented 25% tariff to 35% on Canada. According to the White House, the decision was taken due to Canada’s “continuous inactivity and retaliation”. Trump claimed that Canadian Prime Minister Mark Carney had called for a conversation before the deadline of August 1, but could not talk. In the press conference, Trump said, “We did not talk to Canada today. He (Carney) has called, let’s see what happens.”

Canada’s answer: We will talk when it is necessary
During a press conference in British Columbia, PM Mark Carney said, “Canada is the second largest investor in the US today. We have 40 million citizens.” He said, “Without any compromise, business will definitely decline.”

Canadian minister said: Search for reliable partners
Canadian Finance Minister François Filip Champagne said that now the country is looking for such business partners that can be trusted. He said this during a meeting with External Affairs Minister Anita Anand and Mexico President Claudia Shinbaum.

This tariff is against CUSMA agreement
The CUSMA trade agreement between Canada, the US and Mexico is against these tariff rates. Currently, Canada’s steel, aluminum and copper are charged up to 50%, which violates the rules of the agreement.

Trump said- I still stand on CUSMA
Carney said that last week Trump has reiterated his commitment to the US-Mexico-Canada Agreement (CUSMA). Under this agreement, Canada gets a duty-free access in the US on its 85% exports. Earlier on Tuesday, Canadian Finance Minister Francois-Filip Champagne met Foreign Minister Anita Anand and Mexico President Claudia Shinbam. During this, he said that Canada is now looking for such business partners, which he can “trust”.