Trump imposes new 50% tariff on many Canadian imports

President Donald Trump signed orders Monday to impose a new 50% tariff on many Canadian imports, blaming Ottawa's "discriminatory treatment" of U.S. products. The tariffs take effect Aug. 19 and cover $20 billion worth of imports, ranging from wine, hockey sticks and electrical equipment to concrete. Trump's invocation of Section 338 of the Tariff Act of 1930 -- which allows a U.S. president to mandate a tariff of up to 50% without congressional approval if a country is believed to be discriminating against U.S. goods -- is the first time it has ever been used. The tariffs announced Monday, which even apply to goods covered under the existing United States-Mexico-Canada free trade agreement, will join the 10% import duty on many Canadian goods, as well as previously imposed tariffs ranging from 10% to 50% on products, such as steel, aluminum, copper, automobiles and softwood lumber. "This trade dispute has raised costs for families, particularly in the U.S.," PM Mark Carney said, adding Canada stood "ready to engage intensively" on resolution.