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Canada to remove many retaliatory tariffs on US goods, PM Carney says
Canada will remove retaliatory tariffs on US goods compliant with the US-Mexico-Canada Agreement, restoring tariff-free trade on 85% of bilateral goods to ease tensions.
- On Aug. 22, Prime Minister Mark Carney announced Canada will remove most retaliatory tariffs on U.S. goods covered under the Canada-U.S.-Mexico Agreement, effective Sept. 1.
- After months of tit-for-tat tariffs, Prime Minister Mark Carney and President Donald Trump spoke on Thursday; earlier, then-Prime Minister Justin Trudeau imposed 25% counter-tariffs on 30 billion Canadian dollars in goods responding to U.S. steel and aluminium tariffs.
- He highlighted tariff data showing Prime Minister Mark Carney said `Canada currently has the best trade deal with the United States`, with a U.S. average tariff rate of 5.6% versus a roughly 16% global average, and the Canadian dollar rose 0.5% to C$1.3837 after the announcement.
- The Trump administration praised the rollback as a goodwill gesture, while Canadian labour groups warned it could enable more U.S. measures, questioning Canada's position on tariffs Friday.
- Looking toward the future, Prime Minister Mark Carney said Ottawa will begin consultations next month and soon unveil an industrial strategy to preserve USMCA benefits ahead of the 2026 review.
296 Articles
296 Articles
Canada to Remove All Retaliatory Tariffs on CUSMA-compliant US Goods by Sept 1
Get latest articles and stories on World at LatestLY. Prime Minister Mark Carney on Friday announced that Canada will remove all tariffs on US goods covered under the Canada-US-Mexico Agreement (CUSMA) by September 1, CBC News reported. World News | Canada to Remove All Retaliatory Tariffs on CUSMA-compliant US Goods by Sept 1.
Trump Scores Trade Win As Canada Removes Several Retaliatory Tariffs On U.S. - Real News Now
President Donald Trump notched a major trade win Friday as Canadian Prime Minister Mark Carney announced that Canada will suspend the majority of its retaliatory tariffs on U.S. goods. The move comes just weeks after the Trump administration reaffirmed its commitment to the U.S.-Mexico-Canada Agreement (USMCA), solidifying America’s leverage in the ongoing economic dispute. While Canada will maintain a 25% duty on select U.S. steel, aluminum, an…
As of September 1, Canada will withdraw the counter-tariffs on U.S. products covered by the ACEUM, to advance the negotiations with Trump.
Carney's Tariff Shift Helps Business and Creates a Political Headache
(Bloomberg) — Prime Minister Mark Carney’s decision to remove many tariffs on imports from the US comes after a series of warnings from businesses and analysts that the levies were inflicting economic damage on Canada.
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