Trump administration imposes an additional 50% retaliatory tariff on imports from Canada

[Financial News] The Trump administration has decided to impose an additional 50% retaliatory tariff on imports from Canada in response to discriminatory measures against Canadian products.
CNBC reported on the 20th, local time, that senior U.S. officials said in a conference call briefing that President Trump had signed three broad proclamations targeting imports from Canada. The move was based on the view that the United States had been subjected to unfair discrimination by Canada across multiple sectors.
One senior official emphasized, "Through this measure, President Trump is trying to create a level playing field for key U.S. export items such as automobiles, liquor and dairy products."
The new tariff is based on Section 338 of the Tariff Act of 1930 and will take effect 30 days after the president signs it.
The three proclamations signed by President Trump each target different categories of imports from Canada. An official who took part in the briefing said the tariff covers a wide range of goods, "from consumer items such as wine to industrial products including ice hockey sticks and cement." Another official took a hard line, saying, "Canada must be held accountable for its long-standing discriminatory actions against the United States."
Relations with Canada, a longtime ally of the United States and a key economic partner, have deteriorated sharply since President Trump took office. Analysts say the Trump administration's aggressive tariff-centered policy, along with President Trump's public criticism of the United States-Mexico-Canada Agreement (USMCA), has led to the latest tariff escalation.
As the sweeping 50% tariff measure takes shape, concerns are growing that the fallout from the North American trade war, including possible retaliation from the Canadian government, could spread across global supply chains.

[email protected] Yoon Jae-jun Reporter