New tariffs were announced overnight against Canada. In a letter to Prime Minister Mark Carney, President Trump expressed concerns in several areas, including dairy trade.
Canada now faces a 35 percent tariff on all goods entering the United States, beginning August 1st. The rate will be on top of the other sector-based duties.
President Trump says Canada still has large barriers for U.S. dairy products, warning that some dairy farmers cannot even enter the Canadian market. He calls the imbalance a threat to national security.
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USDA raised exports by $2.5 billion from February, while imports are forecast at $205.5 billion. The resulting $29 billion agricultural trade deficit remains a reminder that higher shipments alone do not resolve trade pressure.
