🚨 Major shift in North American trade you can’t miss.

Starting Sept. 1, Canada will scale back its retaliatory tariffs on U.S. imports. Prime Minister Mark Carney confirmed that goods compliant with the USMCA will move tariff-free — covering about 85% of U.S.–Canada trade.

But there’s a catch: steel, aluminum, and autos stay under heavy tariffs. These sectors remain the flashpoints in ongoing negotiations with the U.S., as both sides weigh competitiveness vs. consumer costs.

And the signal behind the change: Canada had slapped 25% tariffs on $60B worth of U.S. goods earlier this year. Rolling some of them back creates a “good foundation” for future trade talks. Yet for industries tied to metal, manufacturing, or cross-border auto supply chains, the price pressure remains.