U.S. Imposes 50% Section 338 Tariffs on Canada, Ottawa Retaliates on $20B in U.S. Goods

President Trump imposed 50% tariffs on select Canadian goods (alcoholic beverages, dairy, motor vehicles) effective August 22, 2026, under Section 338 of the Tariff Act of 1930-its first-ever presidential invocation. Canada responded with retaliatory tariffs on ~US$20B of U.S. goods starting September 8, 2026, the U.S. subsequently announced import bans on certain Canadian goods effective September 29 and expanded...