US Tariffs on Canadian Imports Expected to Persist Amid Trade Developments
US tariffs on Canadian imports, including a 25% duty imposed by the TRUMP administration in March, are unlikely to be lifted soon, according to Peter Hoekstra, the US envoy to Canada. The White House has justified these tariffs by citing concerns over fentanyl trafficking linked to Canadian supply chains, despite customs data showing less than 1% of seized fentanyl at US borders originates from Canada.
The remarks coincide with Washington’s progress in separate trade negotiations with Beijing and a new trade agreement with the UK, which offers limited relief on automotive, steel, and aluminum exports. Market participants are closely monitoring these developments for potential impacts on cross-border trade and commodity-linked financial instruments.
