US Announces 50% Tariff on Some Canadian Products

Source: CCTV News (Liu Xiaoqian), reprinted by The Paper

On July 20 local time, the White House issued a statement announcing that the United States will impose an additional 50% ad valorem tariff on certain Canadian products, in response to what it described as "discriminatory measures taken by Canada against the United States in trade involving automobiles and auto parts."

The new tariffs are said to take effect at 00:01 Eastern Time on August 19, and will be levied on top of existing relevant tariffs, taxes, and other charges.