Markets and governments around the world are bracing for another shakeup to global trade.
On Wednesday, the Trump administration is expected to impose so-called “reciprocal” tariffs by increasing U.S. duties to match the tax rates that other countries charge on imports.
That same day, a pause on economy-wide tariffs on Canadian goods is set to expire. Will it be reinstated? As of Monday night, that decision hadn’t yet been made, according to a White House official.
Then on Thursday, a 25 per cent surcharge on cars and auto parts imported to the U.S. will come into effect.
Follow along for live updates and analysis from across the Star’s newsroom.
First, here’s a look at Monday’s headlines:
White House says ‘no exemptions’ as Canada braces for new wave of U.S. tariffs
U.S. President Donald Trump on Monday provided few details of his plan this week to upend global trade through “reciprocal” tariffs as the White House confirmed there’s been no decision on whether a pause on economy-wide duties against Canada will be lifted.
Trump called Wednesday “Liberation Day” — the day when he intends to impose “reciprocal” tariffs by increasing U.S. duties to match the tax rates that other countries charge on imports.
“We are going to be very nice by comparison to what they were. The numbers will be lower than what they have been charging us,” Trump said in the Oval Office where he signed an unrelated executive order flanked by musician Kid Rock.
Read the full story from the Canadian Press
Key dates to watch this week for Trump’s tariffs on Canadian goods
Uncertainty still looms for Canada in what’s set to be a monumental week for U.S. President Donald Trump’s tariff plan. With multiple categories of American import taxes set to take effect, some Canadian industries are waiting to find out if and how they might be affected.
Here’s a rundown from the Canadian Press on what to watch for this week.
Party leaders see future of Canada-U.S. relations through different prisms on campaign trail
Conservative Leader Pierre Poilievre says the Canada-U.S. relationship can be salvaged, while Liberal Leader Mark Carney says it’s basically “over” and time to seek allies elsewhere.
That’s the key difference in the approach of the two major party leaders toward how they propose to deal with U.S. President Donald Trump and his short- and long-term threats to Canada’s economy and independence.
Carney says if Trump can be persuaded to reach a new comprehensive economic and security agreement with Canada, he is willing to negotiate with the U.S., but his sights are already on Europe.
Poilievre says if Trump cannot be persuaded to drop threatened tariffs, he too is keen to find other dance partners.
All major party leaders in Canada call Trump’s tariffs “unjustified.” But their language on the campaign trail reflects that they see the future through different prisms.
Read the full analysis from Tonda MacCharles
