Trump's new tariffs target about 5 per cent of Canada's exports to U.S.: economists
The duties cover about 5% of Canada’s exports to the United States, economists said, and exclude USMCA exemptions.
- On Monday, President Donald Trump signed executive orders imposing 50% tariffs on a range of Canadian goods, including wine and cement, effective Aug. 19 with no USMCA exemptions.
- The White House justified the tariffs by citing Canada's supply-managed dairy industry, provincial bans on U.S. alcohol, and auto quotas as discriminatory treatment warranting retaliation.
- BMO senior economist Robert Kavcic estimates roughly $28-billion in annual Canadian exports to the United States face new tariffs, though oil, gas, and fish remain excluded.
- The United States opted not to renew the USMCA earlier this month, triggering a decade-long period of annual reviews that will reshape North American trade dynamics.
- Diplomatic friction remains elevated with few signs of progress; President Trump also complained about Canadian forest fire smoke to Prime Minister Mark Carney at Sunday's World Cup final in New Jersey.
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57 Articles
'Swinging recklessly': WSJ slams Trump's 'senseless' attack on Canada
The conservative Wall Street Journal editorial board was none too happy about President Donald Trump's latest "senseless" tariff order — this time a 50 percent punitive attack on Canada for perceived unjust trade practices.The president has tried multiple times to issue broad-based tariffs around th...
Vermont manufacturers react to President Trump announcing new tariffs on Canadian goods
Staff from a Rutland-based baking supplies company say they depend on business and materials from Canada and are worried about the effects from new tariffs on Canadian products
Vermont officials concerned as White House announces 50% tariffs on some Canadian products
“These new tariff threats against Canada are an extreme escalation of President Trump’s reckless and irresponsible trade war,” said U.S. Sen. Peter Welch, D-Vt. Read the story on VTDigger here: Vermont officials concerned as White House announces 50% tariffs on some Canadian products.
Why is the combination of tariff penalties and blockades in the Middle East explosive? This convergence between geopolitical tensions and a more aggressive trade policy acts as an inflationary "double blow." Fuel pricing is the fastest way for consumers to feel pressure.
Economists consider this threat of tariffs to be a sectoral issue, not a generalized one for the economy.
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