Canada’s New Tariffs on US Drop to ‘Nearly Zero’ With Exemptions, Oxford Says

Canada has effectively suspended almost all of its retaliatory tariffs on US products, tamping down inflation risks and improving its growth outlook, according to Oxford Economics.

The government imposed new import taxes of 25% on about C$60 billion ($43 billion) of US-made goods in March in response to the first round of tariffs from the Trump administration. Canada also retaliated against US auto tariffs in early April by putting its own levies on US vehicles.