U.S. Treasury Secretary Scott Bessent told the Senate this week that the United States would “absolutely not” eliminate all tariffs on Canadian goods, even if Canada were to remove its own tariffs in return. The statement signals that the current U.S. tariff posture toward Canada is not solely a matter of bilateral trade balancing, but is also being driven by Washington’s concerns about Canada’s trade relationships with third countries — specifically Canada’s recent tariff reductions on certain Chinese electric vehicles.
For Canadian importers and exporters, the practical implication is that simple reciprocal tariff offers are unlikely to resolve the current trade tensions. Businesses should be prepared for sustained U.S. tariffs and factor this into sourcing and pricing decisions as CUSMA renegotiations approach later this year.
Read more at Global News.
