James Knightley, ING’s chief international economist, said the deal with the European Union is important. But he said there are still questions to be settled with some of America’s major trading

U.S. President Donald Trump's successive announcements of deals setting baseline tariffs on the European Union and Japan are prompting questions about whether they're a road map for Canada to follow in trade talks.

The economy was supposed to crumble. The trade war was expected to escalate out of control. Markets were forecast to plunge. None of that has happened. But Trump’s early trade victory may be short-lived.

The president’s vision for reshaping global trade is falling into place, but he is embarking on an experiment that economists say could still produce damaging results.

The new trade agreement between the U.S. and the European Union will lift tariffs on imports of goods from EU countries to their highest level in decades and hurt the trading bloc's economic growth, according to some experts.

Trump’s tariffs on Canadian steel and aluminum, autos and goods not covered by the U.S.-Mexico-Canada trade agreement have upended the status quo. He has threatened to raise some of those tariffs to 35 percent by Aug. 1. Canada sends more than 75 percent of its exports to the U.S.

The US president's remarks come after Canadian Prime Minister Mark Carney signalled earlier this week that Canada "will not accept a bad deal".

President Donald Trump threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, ramping up his trade rhetoric in comments that weighed on stocks and boosted the US dollar.

President Donald Trump arrived in Scotland on Friday to visit both his Turnberry and Aberdeen golf properties.