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US Announces 50% Tariff on Some Canadian Products

On July 21, the White House issued a statement on July 20 local time saying that the US will impose an additional 50% ad valorem tariff on some Canadian products in response to 'discriminatory measures taken by Canada against the US in the trade of automobiles and auto parts.' The new tariff is said to take effect at 12:01 a.m. Eastern Time on August 19 and will be imposed on top of existing relevant tariffs, taxes, and other charges.

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