Trump threatens 100% tariffs on Canada over China trade deal
Business
Donald Trump is warning that if Canada finalizes its new trade deal with China—where Canada negotiated a deal to lower tariffs on Chinese electric vehicles in return for lower import taxes on Canadian farm products—he'll slap a 100% tariff on everything Canada exports to the US.
Why does it matter?
Trump's move could spark serious trade tensions between the US and Canada, two countries that rely heavily on each other for business.
He called out Canadian Prime Minister Mark Carney, calling Canada a potential "Drop Off Port."
While Trump once called the deal "a good thing," he's now drawing a hard line, putting future cross-border trade at risk.