Trump slaps first tariffs on Canadian lumber

The Trump administration is hitting Canada with stiff tariffs of up to 24% on lumber shipped into the United States. These are the first tariffs imposed by President Trump, who during his election campaign threatened to use them on imports from both China and Mexico. The decision on Monday evening is bound to lead to a standoff and could stoke fears of a trade war between the U.S. and Canada, two of the world's largest trade powers. Commerce Secretary Wilbur Ross said the tariffs, or taxes, announced Monday evening were being imposed after trade talks on dairy products fell through.