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International Trade Report

TRUMP'S NEW TARIFFS - NOT HURTING CANADA?

TRUMP TARIFFS DO NOT APPLY TO CUSMA GOODS


Much of the current commentary surrounding the new US tariff measures has overlooked a central point – namely, that broad-based US tariff actions do NOT apply to Canadian-origin goods that properly qualify under CUSMA.

There are certainly some exceptions like in militarily strategic sectors (like steel and aluminum) and in sensitive economic sectors (like automotives and lumber) but the wider narrative suggesting sweeping tariff exposure for Canadian exports to the US is probably overstated. We provide additional insight below.

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