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Trump’s Proposed Tariffs on Steel Could Lead to 50% Levy on Canadian Goods

by Daisy

A White House official confirmed late Tuesday that US President Donald Trump’s proposed 25% tariffs on all steel and aluminum imports will be added to existing tariffs on Canadian goods, resulting in a total levy of 50%.

According to a government source who spoke to Reuters, Canada has not yet been formally notified about the potential “tariff stacking” but noted that the development “sounds plausible.”

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Earlier this month, Trump had already implemented 25% tariffs on a wide range of Canadian products, though those tariffs were temporarily suspended for 30 days last week.

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Market Response

At the time of publication, the USD/CAD currency pair was trading 0.03% higher, reaching a rate of 1.4292.

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