Canada to Lift Many Retaliatory Tariffs on the US, Extending an Olive Branch to Trump

According to ChainCatcher, citing relevant media reports, Canada will lift the retaliatory tariffs imposed on numerous American products that comply with the existing North American trade agreement, aiming to ease tensions with the White House. Canadian Prime Minister Mark Carney is expected to announce this decision on Friday after a cabinet meeting. According to sources familiar with the matter who requested anonymity, the government will adjust its tariff policy to better align with U.S. measures.

This means that as long as they meet the provisions of the USMCA, many American consumer goods will no longer face a 25% tariff when exported to Canada. However, the Canadian government may maintain the 25% import tariff on U.S. steel and aluminum products, as well as tariffs on American automobiles. U.S. President Trump has already imposed tariffs on these industries.