CUSMA

US Election 2024

Trump’s 100% Tariff Threat: Devastating Canada-US Relations

Facing 25% U.S. tariffs on steel and aluminum, Canada now confronts the potential for 50-100% tariffs on Canadian-made cars, a move President Trump justified by claiming Canada “stole” the auto industry. This follows the removal of auto tariffs under the Auto Pact (1965) and NAFTA (1994), replaced by CUSMA in 2018. Trump’s action aims to bolster the U.S. steel and aluminum sectors, while Canadian officials are working to mitigate the damaging effects of these tariffs. The deeply integrated automotive sectors of both countries are at risk.

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John Q. Hosedrinker
US Election 2024

Canada Diversifies Trade Amidst US Uncertainty, Seeks New Alliances

Amidst threatened U.S. tariffs and stalled talks with traditional partners like the U.K. and India, Canada is actively diversifying its trade relationships. The recently signed free trade agreement with Ecuador marks the 16th such deal in eight years, demonstrating a successful strategy to expand markets beyond traditional partners. This diversification includes ongoing negotiations with ASEAN countries and exploratory discussions with the Philippines, showcasing Canada’s proactive approach to securing economic partnerships. However, challenges remain, notably the upcoming review of CUSMA and ongoing tensions with the U.S. regarding dairy trade.

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John Q. Hosedrinker

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