STOCKS | Trump Says 50% Canada Aircraft Tariff Stemmed From Friend's Private Jet Purchase

U.S. President Donald Trump said his threat to impose a 50% tariff on all aircraft sold by Canada to the United States began after a wealthy friend tried to buy a private jet but could not complete the purchase. According to Sina Finance, Trump made the remarks on Wednesday while attending an event in the Oval Office marking the summer travel season. Trump said the friend was trying to buy a Gulfstream aircraft and was told Canada would not certify it. He said the friend later connected him with Gulfstream's manufacturer, and that the company had spent about $60 million over roughly nine years seeking Canadian certification without success. Trump said he then threatened to impose heavy tariffs on Bombardier and other goods until certification was completed. He also described a call from Canadian Prime Minister Mark Carney, though he did not directly name him, and said Canada completed the certification within hours. Trump appeared to be recalling a series of events from earlier this year. On January 29, he posted on Truth Social that Canada was effectively blocking Gulfstream sales through the certification process and threatened a 50% tariff on all aircraft sold in the United States if the issue was not corrected immediately. He also said the United States would cancel certification for Bombardier Global Express, although that authority belongs to the U.S. Federal Aviation Administration, not the president. Canada's transport department later completed certification for the Gulfstream G500 and G600 on February 16, and for the G700 and G800 on February 23. Trump said the actual time from his January 29 post to certification was 26 days, not two hours, and added that the United States never ultimately imposed the aircraft tariff. He also repeated claims about U.S.-Canada trade, U.S. banks in Canada, and trade talks, while criticizing Ontario Premier Doug Ford.