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Trump Enacts 50 Percent Tariffs on Canada
U.S. President Donald Trump suspended the implementation of tariffs that were set to be imposed on certain Canadian goods at a rate of 50%, following intensive negotiations with Canada that continued until the last moment before their enforcement. The decision was based on a preliminary agreement between the two countries, but it remains subject to the completion of ratification of the final documents. Oxford Economics estimates that these tariffs would have impacted approximately 5.5% of Canada's exports to the United States, worth around $20 billion, with a greater effect on Canada's manufacturing sector. Both sides are continuing efforts to reach a final agreement to avoid the tariffs, amid concerns that retaliatory policies and rising tensions might hinder the negotiations.
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