24 Jan 2026

President Trump has threatened to impose a 100% tariff on all Canadian goods if Canada finalises a trade deal with China. This comes after Trump initially supported the deal, which aimed to lower tariffs on Chinese electric vehicles and Canadian canola products. The threat comes amidst ongoing USMCA renegotiations and follows a speech by Canadian Prime Minister Carney at the World Economic Forum, which Trump interpreted as a critique of the US.

And my own commentary: tariffs are paid by the country that sets them. So if US sets 100% tariffs on Canada, it is Americans who will pay double!