Canadian Prime Minister Mark Carney’s decision to remove many tariffs on imports from the U.S. comes after a series of warnings from businesses and analysts that the levies were inflicting economic damage on Canada.
On Friday, Carney announced the end of 25% retaliatory tariffs imposed by his predecessor, Justin Trudeau, on a wide range of food and other consumer goods. Those items will be tariff-free as of Sept. 1, as long as they comply with the conditions of the U.S.-Mexico-Canada Agreement, the continental trade deal that came into effect in 2020.
On top of being an irritant to the U.S. in trade negotiations, the counter-tariffs were hurting Canadian companies and increasing the likelihood of firms raising prices. That was teeing up a political liability for Carney by exacerbating cost-of-living challenges.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.