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Canada plans to cancel some retaliatory tariffs on American goods to ease bilateral trade tensions.
[Bi Push] Canada will eliminate retaliatory tariffs on many U.S. products that comply with the existing North American trade agreement, aimed at easing tensions with the White House. Canadian Prime Minister Mark Carney is expected to announce this decision on Friday after a cabinet meeting. According to sources familiar with the matter who requested anonymity, the government will adjust its tariff policy to better align with U.S. measures.
This means that as long as the terms of the United States-Mexico-Canada Agreement (USMCA) are met, many consumer goods produced in the U.S. will no longer face a 25% tariff when exported to Canada. However, the Canadian government may maintain a 25% import tariff on U.S. steel and aluminum products, as well as on U.S. automobiles. U.S. President Trump has imposed tariffs on these industries.