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25/08/2026 03:56 AST
Trump threatened Monday to impose a 50% tariff on Canadian automobiles, car parts and steel starting next year as the trade rift with Ottawa deepens.
Trade talks between the otherwise allies and reliable trading partners collapsed last week. Long-planned US tariffs on various Canadian goods went into effect after the talks broke off, and Canada has vowed to retaliate.
"Canada has been ripping off the United States of America for years," Trump posted on social media Monday morning. Criticizing Canada's "ridiculously high tariffs" on American farmers, Trump wrote: "Not sustainable, and NOT ANYMORE!"
Ontario Premier Doug Ford said Monday that Ronald Reagan would be "throwing up" over President Donald Trump's trade policies and threatened to cut off electricity and critical minerals to the United States.
Ford, speaking in an interview with The Associated Press, said Trump has underestimated Canadians' willingness to endure economic pain rather than give in to US pressure.
"He underestimates Canada. We're all in," Ford said. "Up here, we're at a fever pitch, everyone's in for an economic war. They know they're going to have to sacrifice."
Asharq Al Awsat
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 66,016.36 | -200.43 (-0.30 |
| DAX | 26,136.56 | 153.52 (0.59 |
| S&P 500 | 7,674.37 | 33.21 (0.43 |
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