Trump says 50% tariffs on Canadian autos coming on January 1, 2027
USD/CAD is a few pips higher on this but we knew that some retaliation was coming and this isn’t exactly a nuclear bomb. It leaves plenty of time to TACO.
Canada has been ripping off the United States of America for years.
Their ridiculously high tariffs on our Farmers and farm products has
made life impossible for these great American Patriots, and has long
created a 60 Billion Dollar Deficit between our two Countries. Not
sustainable, and NOT ANYMORE! On January First, 2027, Tariffs on all
Cars, Trucks, both large and small, Automotive Parts, and Steel, will be
increased to 50%. Build in the U.S. and there are ZERO TARIFFS. Canada
will be treated like a State no longer! On Trade, and in other ways,
also, they are among the worst Nations in the World to deal with. They
feel entitled, and yet, WE DON’T NEED CANADA, THEY NEED US! They do 95%
of their business with the U.S., with us, the exact opposite! Thank you
for your attention to this matter! President DONALD J. TRUMP
USD/CAD was last up 62 pips to 1.3827, up about 5 pips since the announcement.
This article was written by Adam Button at investinglive.com.