Trump threatens Canada with 10% extra import tax for not pulling down anti-tariffs ad sooner
Aboard Air Force One (AP): President Donald Trump said on Saturday that he plans to hike tariffs on imports of Canadian goods by an extra 10 per cent because of an anti-tariff television ad aired by the province of Ontario.
The ad used the words of former President Ronald Reagan to criticise U.S. tariffs, angering Trump who said he would end trade talks with Canada. Ontario Premier Doug Ford said he would pull the ad after the weekend, and it ran Friday night during the first game of the World Series.
“Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD,” Trump said in a post on his Truth Social platform as he flew aboard Air Force One to Malaysia.
"Because of their serious misrepresentation of the facts, and hostile act, I am increasing the tariff on Canada by 10% over and above what they are paying now.”
It was unclear what legal authority Trump would use to impose the additional import taxes. The White House did not immediately respond to a request for comment on when the 10% hike would come into effect, and whether it would apply to all Canadian goods.
Canada's economy has been hit hard by Trump's tariffs, and Canadian Prime Minister Mark Carney has been trying to work with Trump to lower them. More than three-quarters of Canadian exports go to the U.S., and nearly $3.6 billion Canadian ($2.7 billion U.S.) worth of goods and services cross the border daily.
A spokesperson for Carney didn't immediately respond to a request for comment.
Many Canadian products have been hit with a 35% tariff, while steel and aluminum face rates of 50%. Energy products have a lower rate of 10%, while the vast majority of goods are covered by the U.S.-Canada-Mexico Agreement, and are exempt from tariffs. That trade agreement is slated for review. Trump negotiated the deal in his first term, but has since soured on it.
Trump and Carney will both attend the Association of Southeast Asian Nations summit in Malaysia. But Trump told reporters traveling with him that he had no intention of meeting Carney there.
Trump said the ad misrepresented the position of Reagan, a two-term president and a beloved figure in the Republican Party. But Reagan was wary of tariffs and used much of the 1987 address featured in Ontario's ad spelling out the case against tariffs.
Trump has complained the ad was aimed at influencing the U.S. Supreme Court ahead of arguments scheduled for next month that could decide whether Trump has the power to impose his sweeping tariffs, a key part of his economic strategy. Lower courts had ruled he had exceeded his authority.
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All you need to know about India’s first Sunday Budget
New Delhi: This year’s Budget is drawing special attention because it is being presented on a Sunday. While Sunday is normally a holiday, Parliament will function as usual for the Budget presentation.
India's Union Budget is presented on February 1 each year, a practice that began in 2017. The idea behind this change was to give Parliament enough time to discuss, approve and put Budget proposals into action before the new financial year begins on April 1. Earlier, Budgets were usually presented at the end of February.
A similar situation arose in 1999, when February 28 fell on a Sunday. To avoid presenting the Budget on a holiday, then Finance Minister Yashwant Sinha, under the Atal Bihari Vajpayee-led NDA government, presented it a day earlier on February 27, a Saturday.
Until 1999, Union Budgets were presented in the evening, around 5 pm. This practice came from British colonial times, when announcements were timed to suit working hours in London.
Yashwant Sinha changed this tradition by presenting the Budget at 11 am. Since then, 11 am has remained the standard time for Budget presentations in India.
