On February 1, the US announced a plan to impose a 25% tariff on Canadian goods, and a 10% tariff on Canadian energy exports bound for the US. These tariffs are scheduled to come into effect on February 4, 2025.
In response, the Government of Canada announced a 25% tariff on $155 billion worth of goods imported from the US. These measures will be phased in, starting with 25% tariffs on $30 billion in goods that will take effect on February 4, 2025. These first-round tariffs include items such as food, alcohol, motorcycles, apparel, footwear, pulp and paper, and more. A full list of US products subject to these tariffs can be found on the Government of Canada’s website.
As the Canadian trade office for Pennsylvania, North Carolina, Michigan, Wisconsin, and Ohio, our priority is working toward a complete understanding of how the Canadian government’s response to the US tariffs may affect our American clients. We are ready to answer any questions our clients may have at any time and will continue to be a source of up-to-date market information and support. Follow this blog (and our LinkedIn and X feeds) for more updates on this matter.
UPDATE: President Trump’s tariffs and Canada’s retaliatory measures have been delayed by 30 days. Read more here.
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