U.S. vows 25% tariffs on imported Canadian goods

Canadian businesses should consider how they may be affected by significant U.S. tariffs that could be introduced next year

Significant U.S. tariffs could be introduced next year

27 November 2024

1 min read

U.S. president-elect Donald Trump recently posted on social media that he is considering an executive order to enact a 25% tariff on all products entering the United States from Canada and Mexico starting January 20, 2025. If these changes are enacted, Canada may choose to respond with its own retaliatory tariffs on U.S. goods, as has happened in the past.

These changes, if enacted, could have a broad and significant effect on many Canadian businesses, including those that sell into the United States. In particular, Canadian businesses that are non-resident importers into the United States that do not take timely action may bear the full burden of any tariffs.

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U.S. vows 25% tariffs on imported Canadian goods