Ottawa will impose tariffs Tuesday in response to US pressure, escalating bilateral trade tensions and risking further economic friction.
Canada will announce retaliatory tariffs against the US on Tuesday, responding to President Donald Trump’s demands for alignment with US trade policies. The move follows accusations from Canadian officials that Washington offered an unfavorable deal, heightening cross-border trade tensions.
The tariffs come after months of negotiations failed to resolve disputes over steel, aluminum, and automotive trade. Earlier this year, the US imposed tariffs on Canadian goods, prompting threats of reciprocal action. Ontario Premier Doug Ford also warned of potential power supply disruptions, adding to the economic uncertainty.
Markets are monitoring the developments for signs of broader trade disruptions, with commodities and equities likely to react to further escalation.