In a bizarre escalation of his trade wars with Canada, US President Donald Trump has raised tariffs on Canadian goods by 10% - his "pettiest" yet, according to critics. The move was sparked by an ad featuring Ronald Reagan's words against tariffs.
The ad, which aired during two World Series games and widely in the US, featured a quote from Reagan warning that tariffs can be a temporary solution but may not always work as intended. Trump saw this as an attack on his administration and responded with a 10% tariff increase, effectively punishing Canadian consumers who purchase goods like lumber and other materials.
However, this move is seen by many as an overreaction and an abuse of the emergency power granted to Trump under the International Emergency Economic Powers Act (IEEPA). Critics argue that the law was not intended for petty retaliatory measures but rather to address genuine threats to national security.
This is a concerning development in the already volatile trade relationship between the US and Canada, with tensions escalating since Trump took office. The Supreme Court will soon weigh in on whether these tariffs are legal under IEEPA, leaving many wondering how long this latest tantrum will last.
Critics argue that Trump's actions demonstrate a lack of understanding of the law and a tendency to overstep his authority, which has led to significant economic losses for Canadian businesses.
The ad, which aired during two World Series games and widely in the US, featured a quote from Reagan warning that tariffs can be a temporary solution but may not always work as intended. Trump saw this as an attack on his administration and responded with a 10% tariff increase, effectively punishing Canadian consumers who purchase goods like lumber and other materials.
However, this move is seen by many as an overreaction and an abuse of the emergency power granted to Trump under the International Emergency Economic Powers Act (IEEPA). Critics argue that the law was not intended for petty retaliatory measures but rather to address genuine threats to national security.
This is a concerning development in the already volatile trade relationship between the US and Canada, with tensions escalating since Trump took office. The Supreme Court will soon weigh in on whether these tariffs are legal under IEEPA, leaving many wondering how long this latest tantrum will last.
Critics argue that Trump's actions demonstrate a lack of understanding of the law and a tendency to overstep his authority, which has led to significant economic losses for Canadian businesses.