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Economic CalendarGeo-PoliticalOpinion

U.S. to Hit Canada with Broad 50% Tariffs

Canada faces the threat of steep new U.S. trade measures after the Trump administration on Monday announced plans to impose a 50% tariff on Canadian imports starting in 30 days, accusing Ottawa of discriminating against U.S. exports, including alcohol, automobiles, and dairy products. The White House said the tariffs would cover a broad range of goods, from hockey sticks to cement, and would also apply to products covered under the U.S.-Mexico-Canada Agreement (USMCA) that had been exempt from previous tariff actions. Only a limited number of products would be spared, including energy, critical minerals, potash, fish, and goods already subject to sector-specific Section 232 tariffs. The move marks a significant escalation in trade tensions between the two neighboring economies and could disrupt cross-border supply chains if implemented.

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