5 Minutes for Business: Latest on Canada-U.S. Tariffs

In this edition of 5 Minutes for Business, the Canadian Chamber’s Director of International Affairs, Mark Agnew, takes stock of the latest Canada-U.S. tariffs and examines what could come next and how it could impact Canadian business.

On June 1—and in the absence of any cogent justification—Canadian steel was hit with a 25% tariff and aluminum with a 10% tariff. Unfortunately, these actions necessitated a proportionate response to attempt to encourage the U.S. administration to reverse these unwarranted tariffs on Canadian exports.

At time of writing, there has been relative silence from President Trump on Canada’s retaliatory tariffs. But, how long will he remain quiet and what will be his next move?