What smart people say about Trump’s escalating trade war with Canada
The US and Canada broke off negotiations on a new trade deal.
Trump is retaliating on Monday with fresh tariffs.
Getty Images/Business Insider Trump threatened a fresh batch of tariffs on Canada after talks fell apart on Friday.
The new tariffs could impact cars, car parts, and steel.
They're set to take effect on January 1.
BI compiled what experts are saying about the new trade war.
Big Canadian tariffs are making a comeback.
In Truth Social posts on Monday, President Donald Trump threatened a plan to impose another batch of 50% tariffs on Canadian-made products.
This one impacts cars, trucks, auto parts, and steel, and would start on January 1.
The ultimatum is escalating an already bitter trade fight with one of America's closest economic partners.
"Canada has been ripping off the United States of America for years," he wrote.
"Canada will be treated like a State no longer!" The post came after US-Canada negotiations collapsed Friday, triggering a separate set of 50% US tariffs on roughly $20 billion in Canadian goods.
Canadian Prime Minister Mark Carney has vowed to retaliate "dollar-for-dollar," beginning September 8.
The countries have been trying to ease tariffs and disputes ahead of the scheduled review of the USMCA, the North American trade pact negotiated by Trump in his first term.
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