Canada imposes 35 percent tariffs. Trump's letter to the EU arrives today.
trade tensions
The American president publishes the first letter addressed to Ottawa. One is expected today for Brussels, which, after weeks of negotiations, is preparing to accept an unfavorable deal to avoid an escalation.
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Today, the letter containing Donald Trump's announced tariffs for the European Union will arrive. The American president himself stated in an interview with NBC: "The European Union and Canada will receive letters informing them of the new tariffs today or tomorrow. I would like to send the one to the European Union today." Among his intentions is to raise the general tariffs on most trading partners—currently at 10 percent—to 15 or 20 percent. Trump then denied that further tariffs would negatively impact the stock market or raise inflation.
As for the EU, the suspension of tariffs imposed by Trump expired on July 9: without an agreement, tariff rates could reach 50 percent. Under pressure from Germany and Italy, the European Commission, after weeks of negotiations, is preparing to accept an unfavorable agreement in principle, which calls for a basic tariff of 10 percent, in order to avoid a trade escalation . The agreement would protect certain sectors such as aircraft, wine, and spirits, but would leave strategic sectors such as steel, aluminum, and agriculture exposed. France and other member states had called for a tougher line, but Brussels preferred to suspend countermeasures to avoid an immediate clash. The goal now is to ensure stability and predictability, even at the cost of forgoing direct confrontation with Washington.
Shortly after the American president's statements, a letter from the White House addressed to Ottawa was made public. The document formalized the United States' intention to impose a 35 percent tariff on Canadian exports starting August 1st . The Canadian response was swift. In a post published on X, Prime Minister Mark Carney emphasized that the Canadian government had maintained a clear position during negotiations with Washington: "During the ongoing trade negotiations with the United States, the Canadian government has staunchly defended our workers and businesses. We will continue to do so as we work toward the August 1st deadline," he wrote. He then responded to the US president's reference to the fentanyl issue, which Trump included in the trade dossier. Carney defended Canada's moves on the matter: "Canada has made crucial progress in stopping the proliferation of fentanyl in North America. We are committed to continuing to work with the United States to save lives and protect communities in both our countries." He also announced new initiatives: "We are preparing to implement a series of important new projects in the national interest. We are working to strengthen our business partnerships around the world," Carney wrote.
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