Trump Puts Heavy New Taxes on Canadian Cars, Trucks, and Steel

Starting January 1, 2027, Trump will tax Canadian cars, trucks, auto parts, steel, and $20 billion in electronics at 50%. A tariff is a tax on goods entering a country, making them more expensive for buyers. The deal to lower these taxes collapsed. Canada's leader, PM Carney, promised to tax American goods right back. The two nations trade about $909 billion a year.