OTTAWA — U.S. President Donald Trump's executive order hitting Canada and Mexico with 25 per cent across-the-board tariffs, with a lower 10 per cent levy on Canadian energy, took effect at 12:01 a.m. ET on Tuesday.
OTTAWA — U.S. President Donald Trump's executive order hitting Canada and Mexico with 25 per cent across-the-board tariffs, with a lower 10 per cent levy on Canadian energy, took effect at 12:01 a.m. ET on Tuesday.
Here's what has happened so far, and some key dates coming up as Canada is officially in a trade war with its biggest trading partner.Trump initially signed an order on Feb. 1 imposing blanket tariffs of 25 per cent on virtually all goods entering the U.S. from Canada and Mexico, and a reduced 10 per cent tariff on energy exports, set to begin on Feb. 4.
There were hopes that the border security measures Canada took during the month-long pause could stave off the tariffs, but on March 3 Trump confirmed they would go ahead, which they did. That would bring the effective import tax on Canadian steel and aluminum to 50 per cent as of March 12.On Trump's first day in office, he signed an executive order to enact the"America First Trade Policy."
These would be on top of other tariffs and would match the rates charged by other countries, including subsidies and value-added taxes.
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