Trump's new tariffs could raise prices again

President Donald Trump is preparing a new round of tariffs, beginning with a 50% tariff on a wide range of Canadian products imported into the United States that is set to take effect in 30 days. Trump accused Canada of discriminatory trade practices, saying the tariffs are necessary. "It's the only response to the way they've treated our farmers and our people," Trump said. To impose the tariffs, the White House is relying on a little-known section of the 1930 Smoot-Hawley Tariff Act that has never been used in this way before. "We want an economy that is resilient from shocks and not dependent on foreign production for critical goods," U.S. Trade Representative Jamieson Greer said. Canadian officials argue the tariffs will create economic shocks and have threatened retaliatory tariffs of their own. "They need to feel the pain rather than us constantly feeling the pain," Ontario Premier Doug Ford said. Trump has also floated additional tariffs on Canada in response to smoke from Canadian wildfires. "Maybe they should pay us some damages or something, or we should do some tariffs," Trump said. Earlier this year, the U.S. Supreme Court struck down tariffs Trump imposed under a 1970s emergency economic powers law, ruling they exceeded the president's authority. The administration then imposed a nearly across-the-board 10% tariff on foreign goods sold in the U.S., which is set to expire Friday. The administration has since turned to other legal authorities to impose a 25% tariff on Brazilian products, effective Wednesday, a 100% tariff on generic drugs beginning in 2028, and could impose tariffs on as many as 60 countries over forced labor standards as soon as this week. Sen. Michael Bennet, D-Colo., warned another wave of tariffs would increase costs for Americans. "It's just going to be rising costs and rising costs and rising costs," Bennet said. Sen. John Cornyn, R-Texas, said he believes Trump is using tariffs as a negotiating tool. "I think President Trump uses tariffs for negotiating leverage. So we'll have to wait and see what finally happens," Cornyn said. Many are hoping Trump's tariff threats lead to negotiated trade agreements with U.S. trading partners and help avoid another trade war. READ MORE: https://13wham.com/search?find=tariff _______________ Stay up to date with our social media: 13 WHAM on Facebook:   / 13wham   13 WHAM on Twitter:   / 13wham   13WHAM on Instagram: https://www.instagram.com/13whamtv/?h... 13WHAM on TikTok: https://www.tiktok.com/@13wham?lang=en 13 WHAM Daily Local News Digest:    • 13WHAM Local News Digest   For more information, visit https://13wham.com/ Have a news tip? Send it directly to us: Email us: [email protected] Call the Newsroom: (585) 334-8700 WHAM is a NY based station and a ABC Television affiliate owned and operated by Deerfield Media, Inc and receives certain services from an affiliation of Sinclair Broadcast Group. Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the country today. #13WHAM #News #Rochester #NewYork