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The Trump administration would “absolutely not” eliminate all of its tariffs on Canada if Ottawa did the same for American goods, U.S. Treasury Secretary Scott Bessent said Thursday, citing Canada’s recent trade agreement with China and the threat of Chinese electric vehicles. During testimony in front of the U.S. Senate banking committee, Republican Sen. John Kennedy of Louisiana asked Bessent to explain the rationale behind the administration’s tariff strategy.Kennedy said his understanding is that the “foremost reason” for the tariffs is trying to “stop other countries from taking advantage of us” through their own trade barriers. “Absolutely not,” Bessent replied.“We…

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