Bloomberg Businessweek Trump Escalates Canada Trade Fight With 35% Tariff Threat
Jul 11, 2025
Josh Wingrove, a senior White House correspondent at Bloomberg News, discusses President Trump's escalating trade tensions with Canada, including a proposed 35% tariff that could shake markets. Nick Wadhams, Bloomberg's National Security Team Leader, delves into the international implications of these tariffs, particularly on Vietnam. Harmeet Singh, Chief Financial and Growth Officer at Levi Strauss, highlights how his company navigates these challenges, including a positive revenue outlook amidst uncertainty in trade policies.
AI Snips
Chapters
Transcript
Episode notes
Tariff Hike Threatens Canada Trade
- President Trump is raising tariffs on Canadian goods from 25% to 35%, targeting the non-USMCA compliant goods.
- This move could complicate the trade relationship and adds uncertainty to North American trade dynamics.
Vietnam Caught Off Guard by Tariff
- Vietnam was surprised by President Trump's announced 20% tariff rate, hoping instead for a lower rate.
- The tariff announcement appeared unilateral, reflecting the complexities in US trade negotiations with Vietnam.
Markets Complacent but Cautiously Optimistic
- The markets show a certain complacency regarding tariff threats, expecting negotiations and flexibility behind the scenes.
- Market breadth is improving, with more industries showing positive performance, suggesting healthy fundamentals.