What’s Changed, Where the Impacts are Concentrated and What to Watch Next
New 50% U.S. tariffs on targeted Canadian exports took effect on August 22, 2026, marking a significant escalation in Canada-U.S. trade tensions. While the measures will have significant impacts on some sectors and provinces, more than 80% of Canadian exports to the U.S. remain tariff-free under CUSMA.
This brief summary looks at what has changed, where the impacts are concentrated and what to watch as Canada responds.