Trump Imposes 35% Tariff on Canada, Brazil Vows Revenge, Coffee Prices Surge
President Trump announced a 35% tariff on Canada starting in August, up from the current 25%. He stated that he might reconsider this rate if Canada collaborates on drug enforcement. Canadian Prime Minister Trudeau plans to protect domestic workers and businesses.
Brazil's President Lula has vowed to retaliate with equivalent measures once the tariffs take effect, as Brazil is a major supplier of coffee and orange juice to the U.S. A 50% tariff would significantly raise prices for these beverages.
Trudeau has expressed a commitment to negotiate before the deadline to defend Canada’s economic interests. The U.S. market is now closely watching Trump's tariff policies towards other countries, particularly the European Union.
