In a letter released on his social media platform Truth Social, Trump told Canadian Prime Minister Mark Carney the new rate would be effective from August 1 and would go up if Canada retaliated.
The reasons cited by him for the decision are Canada failing to cooperate on key issues, particularly the smuggling of fentanyl into the United States, and ‘unfair’ trade practices.
He told a US news outlet that he planned to impose blanket tariffs of 15-20 per cent on most other trade partners.
"Not everybody has to get a letter. You know that. We're just setting our tariffs," Trump said in the interview.
"We're just going to say all of the remaining countries are going to pay, whether it's 20 per cent or 15 per cent. We'll work that out now," Trump was quoted as saying by the network.
Trump has till now released tariff hike letters to 22 nations.
ALCHEMPro News Desk (DS)
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