President Donald Trump’s populist economic doctrine is about to face a reality check on the shores of the Great Lakes. After trade negotiations broke down late last week, the president announced new 50% tariffs on Canadian imports ranging from lumber and agricultural products to consumer electronics.
After Canadian Prime Minister Mark Carney announced that his country would begin imposing “dollar for dollar” retaliatory tariffs targeting U.S. steel, agricultural machinery, dairy, and appliances, Trump announced that an additional 50% tariff on Canadian cars, trucks, auto parts, and steel will take effect on Jan. 1, 2027.
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