CIBC analysts said President Trump’s latest tariff threat against Canada — a
U.S. announcement on Monday to impose 50% duties on selected Canadian goods
including alcohol, autos and dairy — marks the beginning of difficult
negotiations over the USMCA. The tariffs are set to take effect in 30 days. CIBC
noted the choice of goods appears politically driven and that the administration
invoked Section 338 of the Tariff Act of 1930, which permits the president to
levy duties up to 50% on countries deemed to discriminate against U.S. commerce.
