President Trump announced a 35% tariff on Canadian goods effective August 1 and indicated that countries without a tariff agreement will face blanket tariffs of 15-20%. This move, amid threats of additional tariffs on multiple countries, has led to a drop in the Canadian dollar and a decline in US stock index futures following the announcement.
Explain It To Me Like I’m 5: President Trump announced that starting August 1, Canada will face a 35% tax on goods they sell to the U.S., and other countries could also have extra taxes if they don’t make deals with him.
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