President Donald Trump has announced a sweeping new wave of tariffs on nearly 70 countries, including a punishing 35% duty on Canada, in his latest bid to overhaul global trade in favour of the U.S. economy.
The White House confirmed Thursday that while the tariffs had been slated to take effect immediately, most countries will now have a one-week window before enforcement begins — a move seen as leaving space for further negotiations.
Trump cast the tariffs as a show of economic muscle, designed to give American exporters an upper hand while bolstering domestic manufacturing by limiting reliance on foreign imports.
But the aggressive stance has already sparked concerns about inflationary pressure and broader fallout for the world’s largest economy.
The latest measures dramatically escalate from the 10% “reciprocal” tariffs Trump imposed in April, citing what he described as unfair trade practices by U.S. partners.
