Trump to Raise Tariffs on Canadian Autos, Steel to 50% in January

U.S. President Donald Trump announced on Monday that tariffs on Canadian automobiles and auto parts will rise to 50% starting January 1, 2027. In a social media post, Trump criticized Canada for imposing high tariffs on American agricultural products, claiming it has created a trade deficit for years. He also stated that tariffs on all Canadian trucks, auto parts, and steel would increase to 50%. The announcement follows the U.S. imposing a 50% additional tariff on some Canadian goods on August 22, prompting Canada to respond with new tariffs on U.S. steel and dairy products effective September 8.