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Canada retaliates with up to 50% tariffs on US goods in dollar-for-dollar move
business1 hour ago

Canada retaliates with up to 50% tariffs on US goods in dollar-for-dollar move

Canada announced dollar-for-dollar counter-tariffs on the US of up to 50% on about C$28 billion ($20 billion) of American goods, to take effect Sept. 8, in response to US levies on Canadian imports. The list targets items from steel and aluminum to furniture, clothing and appliances, aiming to mirror Canadian exposures; Ottawa will also provide roughly C$7.5 billion in aid to workers and firms affected. The move follows failed trade talks and underscores ongoing tensions that could complicate the broader USMCA relationship and supply chains.

via BBC|
#business#canada-us-trade#retaliatory-tariffs
North American Auto Jobs At Risk If Trump Pushes 50% Canada Tariffs
business9 hours ago

North American Auto Jobs At Risk If Trump Pushes 50% Canada Tariffs

The Morning Shift reports that President Trump's plan to impose 50% tariffs on Canadian auto imports could devastate the North American auto industry, risking jobs and profits on both sides as Canada signals it will only return to talks with the 'right attitude' and industry groups warn that tariffs could halt U.S. assembly without Canadian parts; past tariffs cut Canadian vehicle output and experts caution about the broader economic fallout, while the edition also covers Volkswagen's labor unrest over a major restructuring and Porsche's AI deal with Tata Consultancy Services.

via Jalopnik|
#auto-industry#automakers#business
US-Canada trade row heats up as auto tariffs loom at 50%
business1 day ago

US-Canada trade row heats up as auto tariffs loom at 50%

Tensions between the US and Canada deepen after talks collapse, with President Trump threatening to raise tariffs on Canadian-made autos, trucks, and parts from 25% to 50% starting January 1. Canada pledges reciprocal measures and says talks could resume only with a "right attitude." The dispute jeopardizes the USMCA and risks broader economic disruption, prompting Ottawa to boost diversification and infrastructure like icebreakers while firms brace for impact.

via BBC|
#autos#business#tariffs
Tariff Clash: US Slaps 50% on $20B Canada Goods, Ottawa Vows Retaliation
business1 day ago

Tariff Clash: US Slaps 50% on $20B Canada Goods, Ottawa Vows Retaliation

After the US imposed 50% tariffs on roughly $20 billion of Canadian imports, Ottawa promised dollar-for-dollar retaliation starting Sept. 8, targeting steel, dairy, agricultural equipment, paper and electronics; the move sent the Canadian dollar lower and raised concerns about slower GDP growth and spillovers if US demand weakens or the USMCA talks stall.

via CNBC|
#business#canada-us-trade#economy
Trump escalates tariff clash with Canada after failed talks
world2 days ago

Trump escalates tariff clash with Canada after failed talks

After negotiations in Washington collapsed, the United States imposed 50% tariffs on $20 billion of Canadian goods and Canada vowed to retaliate dollar-for-dollar. Trump accused Canada of wanting state-like benefits and said “No more”—while Canada’s prime minister (Carney) claimed the country was at war over trade. US trade representative Jamieson Greer said the measures protect American workers and supply chains. The dispute raises questions about the future of the USMCA and could affect a wide range of goods, from hockey sticks to tongue depressors.

via The Guardian|
#canada#tariffs#trade-war
Tariffs Trigger Collapse of US-Canada Trade Talks
politics-and-government3 days ago

Tariffs Trigger Collapse of US-Canada Trade Talks

Two weeks of US-Canada trade talks collapsed after the US moved forward with 50% tariffs on about $28 billion of Canadian goods, with Canada saying it would match the duties dollar-for-dollar. Negotiators had been close on autos and other concessions, but late-stage demands derailed a deal. The tariffs target items from wine and spirits to cement and hockey sticks, potentially raising costs for consumers and disrupting supply chains and cross-border trade under USMCA rules.

via Yahoo Finance|
#autos#politics-and-government#tariffs
Canada halts talks with U.S., imposes 50% tariffs on $20B of goods
world3 days ago

Canada halts talks with U.S., imposes 50% tariffs on $20B of goods

Canada suspends negotiations with the United States after last‑minute terms derail a deal, triggering 50% tariffs on about $20 billion of U.S. imports and pledging dollar-for-dollar retaliation. Talks stretched to the final hours but collapsed; the White House declined comment and provincial leaders offered mixed reactions as potential legal challenges to the tariffs loom.

via NBC News|
#canada-us-relations#international-relations#tariffs
world6 days ago

Tariff bluff on Canada revives stalled trade talks

Trump’s threat to impose 50% tariffs on Canada jolted over a year of stalled U.S.-Canada trade talks, pushing negotiators back to the table over metals, dairy, alcohol, and streaming taxes; the brinkmanship—anchored in Section 338 of the Tariff Act—has unlocked concessions and a path toward a deal as deadlines loom, though it’s unclear if a final agreement will be signed.

via Politico|
#canada#tariffs#trade-talks
Tariffs Paused as US-Canada Talks Edge Toward a Last-Minute Deal
politics-and-government6 days ago

Tariffs Paused as US-Canada Talks Edge Toward a Last-Minute Deal

President Trump says he’s paused the 50% tariffs on Canadian goods for three days as talks continue toward a last-minute deal, with a separate post from the USTR hinting at concessions like market access for US goods but offering few specifics. Canada’s Prime Minister Mark Carney confirmed progress. The tariffs were set to take effect soon under a 1930 Tariff Act provision, and officials say only a small share of Canadian exports would be affected, while the broader USMCA renegotiations and trade policy remain in flux.

via Yahoo Finance|
#canada#politics-and-government#tariffs
Last-minute deal stalls 50% tariffs on Canadian goods
politics-and-government6 days ago

Last-minute deal stalls 50% tariffs on Canadian goods

President Trump paused 50% tariffs on Canadian goods for three days after a last-minute deal with Canada, with details pending and a midnight deadline; talks centered on concessions around autos, dairy, and wines, but the macro impact may be limited since only a small share of Canadian exports would be affected, and the outcome could influence USMCA renegotiations.

via Yahoo Finance|
#canada#politics-and-government#tariffs
world7 days ago

Trump weighs tariff reprieve for Canada as talks edge toward interim deal

A potential deal to avert 50% tariffs on certain Canadian goods sits on President Trump’s desk as the U.S. and Canada press toward a broader USMCA framework, with concessions on auto tariffs and dairy under discussion and Canada seeking relief from dairy protections and liquor bans; the agreement could unlock wider talks before the Aug. 19 deadline and help cushion swing-state economies ahead of the midterm elections.

via Politico|
#auto-tariffs#dairy-quota#trump-tariffs
Used Car Prices Hit New Highs as Market Shifts Lock In Expensive Inventory
business7 days ago

Used Car Prices Hit New Highs as Market Shifts Lock In Expensive Inventory

Edmunds data show the average price of a 3-year-old used car in Q2 hit a record $32,461, driven by a persistent post-pandemic shortage, trim inflation, and a skew toward higher-trim models. As affordable options age and carry more miles across price bands, buyers face a tougher market even as new cars stay expensive. Cross-border trade rules and tariff talks under USMCA complicate supply, potentially pushing automakers toward automation and reshaping where cars are built.

via The Autopian|
#auto-industry-policy#business#car-prices