Welcome to Canada Tariff News and Tracker, where we break down the latest on US tariffs hitting our northern border. Listeners, 2025 has been a rollercoaster for Canada-US trade, with President Trump flipping the script on decades of open borders and free-flowing goods.
It kicked off hard in early February when Trump signed an executive order slapping a 25% tariff on Canadian goods and 10% on energy resources like potash, citing fentanyl flows that US Customs data shows were just 0.2% from our border, according to Business Insider. Those levies paused briefly after a Trump-Trudeau call, then hit on March 4, only for USMCA-covered goods to get exemptions days later. But Trump didn't stop: by June, steel tariffs doubled to 50%, slamming our major exports, and by July, non-USMCA imports faced 35% duties. ChrisD.ca reports these jumped further in August over dairy supply management gripes.
Canada fought back fiercely. By late March, we imposed 25% retaliatory tariffs on C$30 billion of US goods—think steel, peanut butter, wine, and cosmetics—sparking a massive Buy Canadian wave. Provinces boycotted US booze; Ontario's Doug Ford even ran a Reagan-quoting ad blasting tariffs, infuriating Trump into freezing talks. US spirits exports to us plunged 85% in Q2, per the Distilled Spirits Council.
Politically, it shook us up—Conservative leader Pierre Poilievre lost his seat amid the tariff fury, paving the way for Mark Carney's leadership. Carney suspended our digital tax, dropped most retaliations, and hiked defense spending, but talks stalled after that ad fiasco. No deal yet, as Yale Budget Lab data shows US effective tariffs peaked at 17-22.5% this year—the highest since 1935—raking in $236 billion, per the Associated Press.
Yet silver linings: our GDP beat expectations in Q3, gold exports surged amid global chaos, and we're eyeing Asia for diversification. Economists like Carlo Dade at the University of Calgary say skip a US deal—Trump doesn't play fair.
Thanks for tuning in, listeners—subscribe for weekly updates on tariffs shaking our economy. This has been a Quiet Please production, for more check out quietplease.ai.
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