Sat Mar 08 00:19:48 UTC 2025: ## Trump Threatens New Tariffs on Canadian Dairy and Lumber

**Washington, March 8, 2025** – President Donald Trump issued a fresh threat Friday to impose reciprocal tariffs on Canadian dairy and lumber imports, escalating tensions with Canada just days after temporarily suspending some tariffs under the USMCA trade agreement. The President stated that Canada has been unfairly taking advantage of the U.S. for years and that reciprocal tariffs would be implemented unless Canada alters its practices. He hinted that the levies could be enacted as early as Friday or by early next week.

Trump’s previous imposition of tariffs on goods from Canada and Mexico, reaching up to 25%, caused significant market turmoil earlier this week. Although a temporary reprieve was granted to goods under the USMCA, the White House clarified that approximately 62% of Canadian imports and 50% of Mexican imports would still be subject to the new tariffs. Mexico’s secretary of economy, Marcelo Ebrard, however, countered that 90% of Mexico’s exports to the U.S. fall under the USMCA and are thus exempt until April.

Economists have warned that widespread tariffs could negatively impact U.S. economic growth and fuel inflation, while also harming business and consumer confidence. Despite these warnings, Trump remains firm in his stance, asserting that the tariffs are necessary to address unfair trade practices. He even suggested in a separate interview that tariffs could increase further in the future. While White House senior counselor Peter Navarro dismissed claims of uncertainty surrounding Trump’s trade policies, the fluctuating nature of these pronouncements continues to generate market volatility.

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