Trump Threatens New 50% Tariffs on Cars, Trucks and Steel as U.S.-Canada Trade War Unfolds

President Trump vowed to increase tariffs on cars, trucks, auto parts and steel to 50 percent starting Jan. 1, as the countries edged toward a full-blown trade war.Trade tensions between the United States and Canada have spiraled over the past few days, after the two sides failed to reach a trade deal and President Trump imposed 50 percent tariffs on $20 billion of the country’s exports on Saturday.