Trade News Updates

The move under discussion would generally halve U.S. tariffs on imports of the two metals, which currently face a 50% rate.

More than 70% of Canada’s exports go to the U.S., making America its largest trade partner, and Detroit is the No. 1 port for truck traffic on the U.S.-Canada border.

After President Donald Trump threatened new 50% tariffs on a range of Canadian goods, officials in PM Mark Carney’s government canceled a planned joint celebration.

Trump declared that Canada has unfairly discriminated against American autos, alcohol and dairy products. The new tariffs were scheduled to come into effect 30 days from July 20.

In announcing the tariffs, Trump accused Canada of unfairly discriminating against U.S. automobiles, alcohol and dairy products.

Canadian Prime Minister Mark Carney defended his decision to give the U.S. a share of the profit from a new bridge between Ontario and Michigan.

Trade attorneys and analysts are confident the administration will beat the clock and swap out Section 122 tariffs with bigger Section 301 tariffs by the deadline.

The tariffs, which were first proposed last month, will take effect July 22. The order exempts some some oil and gas energy products.

At this point, there’s no sign the discrepancy will jeopardize the bridge’s planned opening on July 27.

Switzerland is in a delicate phase of negotiations with the U.S. as it seeks to secure a permanent deal to provide exporters with a more predictable trading landscape.