Trump says Canada wants US state benefits as trade war escalates
Donald Trump, the US President, has accused Canada of seeking the benefits of being part of the United States without becoming a state, after trade talks between the two countries collapsed and Washington imposed fresh 50 percent tariffs on a range of Canadian goods.
Trump said Canada had “asked too much” during negotiations and warned that Ottawa would struggle to win a trade war with its biggest trading partner.
Mark Carney, Canadian Prime Minister, described the tariffs as a “miscalculation” intended to hurt and divide Canada. He said Ottawa would respond dollar for dollar from September 8, including tariffs on steel, dairy products, appliances and electronics.
The new US levies affect about $20 billion of Canadian imports, including wine, clothing, cement, dairy products and hockey equipment. They add to existing US tariffs on Canadian steel, aluminium, automobiles and lumber.
The breakdown threatens one of the world’s most integrated trading relationships, with both governments offering little indication of an immediate path back to negotiations.
Iran rejects new US sanctions threat as ‘desperate’
Iran has dismissed Washington’s threat of tougher sanctions, saying the measures will fail to force Tehran into submission.
Abbas Araqchi, the foreign minister, described the US threat as evidence of desperation after Washington shifted from military action to renewed economic pressure. Scott Bessent, US Treasury Secretary, has promised what he called the “toughest sanctions in history”.
Iran is already under extensive sanctions and has suffered major damage from months of US and Israeli military…
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Read Full Article by Faith Omoboye at businessday.ng
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