US President Donald Trump | | Photo: AP US President Donald Trump | | Photo: AP

Amid the ongoing trade war over tariffswww.pinheiropg, United States President Donald Trump has threatened Canada with new tariffs, which could be imposed as soon as Friday, targeting Canadian lumber and dairy products.

President Trump said in an Oval Office address on Friday, citing Canada's roughly 250% tariff on US dairy exports to the country, "Canada has been ripping us off for years on lumber and on dairy products," CNN reported.

“We may do it as early as today, or we’ll wait until Monday or Tuesday. We’re going to charge the same thing. It’s not fair. It never has been fair, and they’ve treated our farmers badly," Trump said, as quoted by CNN.

Also Read | US: President Trump Announces Tariff Relief For Mexico Till April 2

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In response, Canadian trade minister Mary Ng pushed back on Trump's comments, saying his claim that Canada was 'ripping off' the United States was 'not true,' reports suggest.

Citing NG, CNN reported that "I learnt about it just as I was walking into this press conference. These tariffs, if imposed in that order of magnitude, are completely unjustified."

Trump's announcement dealt another hard blow to investors, businesses, and consumers. Just a day earlier,66br on Thursday, Trump announced a one-month moratorium on tariffs on Canada and Mexico on all products that comply with the US-Mexico-Canada Free Trade Treaty, known as USMCA.

This, at least temporarily, provided a sigh of relief to many industries, especially auto and agriculture.

Read More | Trump Tarrif Row: Canada PM Justin Trudeau Puts Up Fight, Unwilling To Lift Retaliatory Tariffs

On Friday Trump said, "Changes and adjustments” on tariffs should be expected in the future.

"There’ll always be some modifications. If you have a wall in front of you, sometimes you have to go around the wall instead of through it," Trump added.

Peter Navarro, a trade advisor at the White House, came to Trump's defence, stating his support for the president's approach.

"The uncertainty is created by the fact that people don't take President Trump at his word," Navarro said.

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