On March 8th, just one day after granting Canada a one month tariff grace period, US President Trump announced that new tariffs will be imposed on Canadian timber and dairy products as early as the 7th, including a 250% equivalent tariff on dairy products. During his speech in the Oval Office of the White House on the same day, Trump stated that “Canada has been exploiting us for many years in terms of timber and dairy products,” and mentioned that Canada has imposed tariffs of about 250% on US dairy products and “extremely high tariffs” on timber. Trump said that the United States will impose equal tariffs, which may be implemented as early as the 7th or may wait until the 10th or 11th.
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