President Donald Trump has launched a sweeping new round of tariffs on 69 countries, intensifying a global trade standoff and escalating tensions over fentanyl, national security and China.
Canada Hit With 35% Tariff Over Fentanyl Dispute
Just before a major trade deadline on Friday, Trump signed an executive order imposing new U.S. import duties ranging from 10% to 41% on dozens of trading partners, reported Reuters.
One of the most severe penalties was aimed at Canada, with tariffs on many goods rising from 25% to 35% over what Trump described as Ottawa’s “failure to cooperate” on combating fentanyl flows into the U.S.
Brazil, India, Taiwan, Switzerland Among Nations Facing New Duties
Goods from Brazil will face a 50% tariff, while India, Taiwan and Switzerland are among others hit with new rates of 20% to 39%. A baseline 10% tariff will apply to all nations not listed in the annex.
Negotiations with India broke down over agricultural access and Russian oil ties, with Trump threatening further penalties.
Some trading partners have failed to align “sufficiently with the United …