Trump Raises Canadian Tariffs to 35% Amid Escalating US Trade Tensions: What It Means for Canada and Global Markets
President Trump has raised U.S. tariffs on Canadian goods to 35%, escalating trade tensions between the two countries. This increase targets Canadian imports that do not comply with the Canada-U.S.-Mexico Agreement (CUSMA) rules, affecting a small portion of trade but signaling tougher enforcement and ongoing disputes, particularly around fentanyl control and retaliatory tariffs. Despite ongoing negotiations in Washington, no trade deal has been reached to prevent the tariff hike, leaving Canadian exporters and global markets facing uncertainty. The move reflects broader U.S. efforts to leverage tariffs in trade negotiations and impacts cross-border trade dynamics significantly.
