Key facts
- President Trump threatened to increase tariffs on Canadian exports.
- The proposed tariffs would apply to cars, trucks, auto parts, and steel.
- The new tariff rate would be 50 percent.
- These tariffs are slated to begin on January 1.
President Trump has vowed to implement significantly higher tariffs on key Canadian exports, including cars, trucks, auto parts, and steel, potentially reaching 50 percent starting January 1. This action signals a deepening trade dispute between the two nations, with the threat of a full-blown trade war looming.