Trump's Got Beef With Canada: Tariffs Go Brrr 🇨🇦➡️🇺🇸

Spilling the Tea

Alright, fam, let's get into it. So, Trump just pulled a major power move and hiked up the tariffs on Canadian imports to a whole 35%. Yeah, you heard that right. 35 freaking percent! He's basically saying Canada's not doing enough to stop the fentanyl wave hitting the US.

But here's where it gets spicy. Canada's Prime Minister Mark Carney clapped back, saying they're super disappointed and that Canada's only responsible for like, 1% of the fentanyl coming into the US. Talk about a plot twist! Carney's vowing to get Canada to diversify their exports.

Now, some Canadian industries are def feeling the heat. We're talking timber, steel, aluminum, motor vehicles—basically, anything that gets shipped across the border could get slapped with that tariff.

But wait, there's more! Some Canadian goods are still vibing under the USMCA agreement, which is like a safety net for trade. But don't get too comfy, because that thing's up for renegotiation in 2026. And if your goods just happen to be passing through Canada without USMCA protection? Get ready for a 40% tariff, no cap!

Oh, and peep this: Australia's baseline tariff rate will remain at 10%. South Korea secured a last-minute deal with the US, reducing its tariffs to 15% in exchange for investments and purchases.

The surge in US tariffs poses a significant threat to the global economy. The Australian share market finished the week flat and Microsoft's market capitalization has topped $US4 trillion.