Canada to Remove Retaliatory Tariffs on US Products

Canada is set to announce the removal of retaliatory tariffs on numerous U.S. products, marking a significant de-escalation in trade tensions between the two nations. Prime Minister Mark Carney will formalize the decision Friday following cabinet discussions, a move interpreted as an olive branch to the TRUMP administration.

The policy adjustment aligns Canada's tariff regime with U.S. measures under the USMCA framework. While steel and aluminum tariffs remain contentious, the 25% levy will be lifted on qualifying imports including select tech products and vehicles. This development follows Carney's first direct conversation with President Trump in weeks.

Bloomberg reports the tariff rollback specifically exempts goods shipped in compliance with USMCA provisions. The original retaliatory tariffs were implemented in April after Trump's sweeping protectionist measures, making Canada among the first nations to respond with counter-tariffs.