US President Donald Trump vows to increase reciprocal tariffs on Canada

Joshua Gibson FXStreet

United States (US) President Donald Trump has hit the ground running on his latest tariffs, vowing to impose additional "reciprocal tariffs" on Canada in response to Canada's retaliatory trade actions against Trump's 25% tariff on all Canadian goods crossing the border into the US.

Tit-for-tat trade wars that accomplish little but cost consumers in both countries was a hallmark of President Trump's first term in office, and Donald Trump appears keen to set new records as he risks sparking recessions both at home and abroad barely six weeks into his second term.

Key highlights

Please explain to Governor (sic) Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the US, our Reciprocal Tariff will immediately increase by a like amount!

US reciprocal tariff will increase to retaliatory level.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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