Today, the US announced a set of new tariffs on countries around the world. Trump cited the issues raised in the 2025 National Trade Estimate Report on Foreign Trade Barriers and tariffs other countries have placed on imported American goods. Barriers imposed by Canada (Pages 40-45) include agricultural supply management, provincial liquor control boards and the federal government’s zero plastic agenda.

President Trump announced that he would impose a 10 percent tariff on imports from some countries and would put an additional, individualized tariff on countries his administration believes have the most unfair trade relationships with the U.S. That includes a 34 percent tariff on China and a 20 percent tariff on the European Union. President Trump also announced sector-specific tariffs on vehicle imports.

After the press conference, the White House released a fact sheet that specifies what tariffs will be applied to Canada:

• For Canada and Mexico, the existing fentanyl/migration IEEPA orders remain in effect and are unaffected by this order. This means USMCA-compliant goods will continue to see a 0% tariff, non-USMCA-compliant goods will see a 25% tariff, and non-USMCA-compliant energy and potash will see a 10% tariff. In the event the existing fentanyl/migration IEEPA orders are terminated, USMCA-compliant goods would continue to receive preferential treatment, while non-USMCA-compliant goods would be subject to a 12% reciprocal tariff.

It appears that Canada has been spared from any new tariffs. PM Carney took the day off campaigning today to meet with officials about how Canada will respond.