The post Trade talks with Canada are terminated appeared on BitcoinEthereumNews.com. Citing US President Donald Trump, the Financial Times (FT) reported on Friday that he is ending trade negotiations with Canada. According to FT, Trump said “he had ended trade talks with Canada out of anger with an anti-tariff advertising campaign launched by the province of Ontario, triggering a new commercial crisis with America’s northern neighbour.” In a Truth Social post late Thursday, Trump noted: “TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE USA. Based on their egregious behaviour, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.” Market reaction The Canadian Dollar (CAD) remains offered against the US Dollar (USD) following this post, with USD/CAD adding 0.11% on the day to 1.4005, as of writing. Tariffs FAQs Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to… The post Trade talks with Canada are terminated appeared on BitcoinEthereumNews.com. Citing US President Donald Trump, the Financial Times (FT) reported on Friday that he is ending trade negotiations with Canada. According to FT, Trump said “he had ended trade talks with Canada out of anger with an anti-tariff advertising campaign launched by the province of Ontario, triggering a new commercial crisis with America’s northern neighbour.” In a Truth Social post late Thursday, Trump noted: “TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE USA. Based on their egregious behaviour, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.” Market reaction The Canadian Dollar (CAD) remains offered against the US Dollar (USD) following this post, with USD/CAD adding 0.11% on the day to 1.4005, as of writing. Tariffs FAQs Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas. Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers. There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs. During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to…