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Trump Imposes 50% Tariffs on Canadian Goods, Effective in 30 Days

GateNews
Forex
According to U.S. officials, the Trump administration announced it will impose 50% tariffs on certain Canadian goods including dairy, hockey sticks, and cement, effective in 30 days under Section 338 of the 1930 Tariff Act. Energy, potash, fish products, and critical minerals are exempt, as are goods already subject to tariffs such as automobiles and steel. However, products meeting USMCA criteria will receive no exemptions. Following the announcement, the Canadian dollar weakened to 1.4083 per U.S. dollar. Ontario Premier Doug Ford responded on X, stating Canada should "respond in kind" with retaliatory tariffs if the U.S. proceeds.
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