Trump’s new 50% tariff on some Canadian goods could shake Maine businesses
New tariffs on some Canadian goods could roil Maine’s markets if they go into effect as planned next month, experts say. The new import taxes were ordered by President Donald Trump last week. The U.S. will charge a 50% tax on the value of a wide range of goods from Canada, from wine to paper products to hockey equipment, beginning Aug. 19. Trump has used tariffs extensively since his second term as both bargaining chips in trade negotiations and as a revenue generator; he’s long called himself “a tariff man.”
The new tariffs won’t directly impact Maine’s biggest category of imports from Canada — energy — but could send shockwaves through exhausted supply chains that Mainers feel in their wallets. And the law Trump invoked to implement the new duties is as yet untested, meaning the president’s push could be challenged in the courts.
READ FULL ARTICLE ON PORTLAND PRESS HERALD
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
