US Imposes 50% Tariffs on Canadian Goods, Escalating Trade Dispute

The United States has announced new 50% tariffs on certain Canadian goods, including automobiles, alcohol, and dairy products, following the expiration of the USMCA trade agreement on July 1. Canadian Prime Minister Mark Carney and US President Donald Trump have agreed to accelerate negotiations to avert the tariffs, which are set to take effect in August and could significantly disrupt supply chains and raise costs for businesses in both countries. Canada has indicated it will keep all options open, including potential retaliation.