Investing.com -- The United States imposed a 50% tariff on numerous Canadian products on Monday after President Donald Trump signed three proclamations under Section 338 of the Tariff Act of 1930. The White House said the action responds to Canada's treatment of American cars, alcohol, and dairy products. Energy, potash, products already subject to Section 232 tariffs, fish, and critical minerals are exempt from the new tariffs. The United States will not renew the USMCA in its current form, the statement added. Related articlesUS imposes 50% tariffs on wide range of Canadian productsJohn Healey named UK's new finance ministerUK's new PM Burnham pledges no economic risks, plans cost relief