Welcome to Canada Tariff News and Tracker. I'm your host, and today we're breaking down the latest developments in the tariff landscape that's reshaping trade between the United States and Canada.

As of late November 2025, Canada continues to navigate one of the most turbulent trade periods in recent history. The situation has evolved dramatically since Trump's return to office in January. What started with threats has transformed into a complex web of tariffs, retaliatory measures, and ongoing negotiations that directly impact Canadian workers, businesses, and the broader economy.

Here's where things stand right now. Canada is facing a 35 percent tariff on imports starting August 1st, though goods that comply with the USMCA, the United States-Mexico-Canada Agreement, have been largely exempted. This exemption covers roughly 95 percent of Canadian exports, providing some critical relief. However, non-compliant goods, particularly steel, aluminum, and auto parts, remain under significant pressure with 25 percent tariffs in place.

The impact has been severe. Economists are projecting that US tariffs will cause a 50 billion Canadian dollar reduction in Canada's GDP. Steel and aluminum sectors, which are heavily reliant on US markets, have been particularly hard hit. The broader picture shows that trade makes up two-thirds of Canada's GDP, and over 75 percent of Canadian exports head south of the border, making these tariff policies extraordinarily consequential for the nation's economic health.

Recent developments show that Canadian Prime Minister Chrystian Carney, who took office in March, has been working to reduce or eliminate US tariffs ahead of expected USMCA renegotiations next year. However, progress has been limited. The situation intensified when Ontario aired advertisements opposing Trump's tariffs, which he called a fraud. Trump subsequently threatened an additional 10 percent tariff on Canadian goods, though he has since held off on implementing it.

Canada has responded strategically. The country ended 25 percent counter-tariffs on USMCA goods in September while maintaining 35 percent tariffs on non-USMCA products. Additionally, Canada has been exploring trade diversification to reduce its overwhelming dependence on the United States, recognizing that this unprecedented threat demands a broader economic strategy.

Looking ahead, Canadian businesses and policymakers face continued uncertainty as negotiations continue and the threat of further tariff escalation remains. The coming months will be critical as USMCA renegotiations approach and the Trump administration signals its next moves.

Thank you for tuning in to Canada Tariff News and Tracker. Be sure to subscribe for the latest updates on how these tariffs continue to shape the Canadian economy and your business. This has been a Quiet Please production. For more, check out quietplease.ai.

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