US EditionRuling on U.S. Tariffs Not a Clear Win for Canadian Businesses: Experts
The Supreme Court overturned emergency tariffs but sector-specific duties remain and new tariffs could raise costs on Canadian exports to the U.S., experts warn.
- The U.S. Supreme Court on Feb 20, 2026, voided President Donald Trump’s emergency tariffs in a 6–3 decision, but analysts said it’s not a clear win for Canadian business.
- A year ago the administration invoked the International Emergency Economic Powers Act to impose tariffs on Canada and Mexico, exempting USMCA-compliant goods and cutting the effective Canadian tariff rate to 3.7%.
- Sectoral tariffs under Section 232 remain in place, hitting autos, steel, aluminum and lumber, while Avery Shenfeld, CIBC chief economist, urged a productive CUSMA renewal.
- Officials signalled a quick pivot to alternate trade tools, including initiating investigations under Section 301 and signing an order for a 10% global tariff under Section 122, with a 15% cap for 150 days.
- The USMCA review this year raises stakes, especially after earlier this month Trump threatened to block the Michigan–Ontario bridge, with trade lawyer Barry Appleton warning tools will be "weaponized" beyond conventional controls.
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Ruling on U.S. tariffs not a clear win for Canadian businesses: experts
The U.S. Supreme Court's striking down of a key method used by President Donald Trump to impose tariffs is not being seen as a clear win for Canadian business.
Gold price pops above $5,000 as weak U.S. GDP and tariff ruling shift Fed bets
Gold rose above $5,000 an ounce Friday after weak U.S. growth data fueled bets on Federal Reserve rate cuts. Spot gold climbed 1% to $5,047.10 by late morning, while April futures gained 1.4%. The Supreme Court struck down Trump’s global tariffs, increasing market volatility and risk appetite for equities. The dollar index slipped to 97.74, and the 10-year Treasury yield edged up to 4.094%. The post Gold price pops above $5,000 as weak U.S. GDP …
Markets are reacting to the US Supreme Court's ruling that Donald Trump had no right to impose some tariffs, with gains. However, experts say the road ahead for companies to recover the tariffs will be long.
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