00:00President Trump sent a letter to Canadian Prime Minister Mark Carney announcing a new 35% tariff on imported goods from Canada, marking a sharp escalation from the existing rate of 25%.
00:12It's part of a broader shift in U.S. trade policy, with plans to introduce 15 to 20% tariffs on other countries.
00:19The U.S. president justified the action by citing Canada's failure to curb fentanyl smuggling and trade barriers impacting U.S. industries,
00:27while Canadian officials pledged retaliation and said the narcotics issues are minimal.
00:33Canada's Prime Minister, who recently rescinded a digital services tax in order to resume trade talks,
00:40maintains that Canada will stand tall in response and is pursuing stronger ties with the EU and U.K.
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