Trump Threatens 35% Tariffs on Canadian Goods

In a dramatic escalation of the ongoing North American trade friction, U.S. President Donald Trump announced a sweeping 35% tariff on Canadian goods, to take effect August 1. The move marks a sharp increase from the existing 25% rate and is part of a broader scheme to raise tariffs on more than 20 countries unless fresh trade agreements are reached .

In a letter posted on Truth Social, Trump cited two primary motivations:

1. Fentanyl trafficking—accusing Canada of not doing enough to curb the flow of fentanyl into the U.S., despite data showing less than 1% of fentanyl seizures originate at the northern border.
2. Trade imbalances—specifically the sizeable U.S. trade deficit with Canada ($63 billion in 2024), exacerbated by Canadian tariffs on American dairy and other industries.

Key Takeaways as Trump Sworn In As 47th US President

On January 20, 2025, Donald Trump was inaugurated as the 47th President of the United States, marking his return to the White House after a four-year hiatus. The ceremony, held indoors at the U.S. Capitol due to inclement weather, set the stage for a series of significant policy announcements and executive actions that signal a transformative shift in the nation's direction.

Inaugural Address Highlights

In his inaugural speech, President Trump declared the onset of a "golden age" for America, emphasizing a vision of national rejuvenation and strength. He criticized previous administrations for what he termed as mismanagement and decline, vowing to reverse these trends. Central to his address was the promise to restore American prosperity, enhance security, and reassert the nation's global standing.

Great Business Ideas to Start With US New President

 

With the arrival of a new president, new policies, economic reforms, and opportunities are likely to emerge, making it a promising time for entrepreneurs to explore fresh business ideas. Here's a look at business ideas with potential to thrive in this changing political and economic landscape.