Mark CarneyDonald Trump

Canada braces for 50% tariff on $29 billion worth of goods as Carney plans to speak with Trump; U.S. and Canada 'very far apart' on a deal

Canada is preparing for a 50% tariff on $29 billion worth of goods as Prime Minister Mark Carney plans to discuss the issue with President Trump, amid reports that the U.S. and Canada are 'very far apart' on reaching a deal regarding Section 232 and Section 338 tariffs.

National Post17 August 2026 · 18:28 UTC
CuriousCats Full Story

Canada is bracing for a significant economic impact as a 50% tariff on $29 billion worth of goods looms, with Prime Minister Mark Carney set to speak with U.S. President Donald Trump.1

Sources indicate that the two nations are 'very far apart' on negotiations, complicating efforts to reach a resolution.2

Canada is particularly focused on relief from Section 232 tariffs affecting key industries such as lumber, autos, steel, and aluminum.3

Additionally, Canadian negotiators are working to avert new tariffs under Section 338 of the Smoot-Hawley Tariff Act, which will impact a variety of goods including cement, clothing, and alcoholic products starting August 19.4

In response to the impending tariffs, the federal government is exploring financial support options for affected businesses, highlighting the potential economic fallout from these trade tensions.

As the deadline approaches, the urgency for a deal intensifies, with both sides needing to bridge significant gaps in their positions.

Key Insight
“As Canada prepares for a 50% tariff on $29 billion worth of goods, Canadian negotiators are seeking relief on Section 232 tariffs affecting lumber, autos, steel, and aluminum. Additionally, the federal government is considering financial support for businesses impacted by new Section 338 tariffs set to take effect on Aug. 19.”
Poilievre says "no more concessions" as Canada-US officials meet ahead of 50% tariff deadline
CuriousCats Shorts-list
Poilievre says "no more concessions" as Canada-US officials meet ahead of 50% tariff deadline
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1
National Post
“Prime Minister Mark Carney said he plans to speak with U.S. President Donald Trump, as Canada braces for a 50 per-cent tariff set to hit $29 billion worth of Canadian goods in less than two days.”
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EARLIER IN THE STORY:
Canadians divided on tariff response as talks continue; poll finds less than 20% favor U.S. 'concessions' ahead of Wednesday deadline
Global NewsGlobal News
Canadians divided on tariff response as talks continue; poll finds less than 20% favor U.S. 'concessions' ahead of Wednesday deadline

A new Abacus Data poll finds Canadians divided on responding to U.S. trade aggression, with 36 per cent favoring counter-tariffs and 30 per cent favoring continued negotiation without counter-tariffs.

Abacus DataCanadian TariffsConcessions
2026-08-17
TL;DR by CuriousCats.ai
  • Trump signed three executive orders last month, each using a different justification: boycotts on American alcohol, retaliatory tariffs on U.S. vehicles and parts, and quotas on American dairy imports.
  • Canadian officials, including LeBlanc and Charette, worked through the weekend with American officials, including a virtual meeting with U.S. Trade Representative Jamieson Greer on Sunday.
  • Officials say Ottawa and Washington are 'not close to signing a trade deal' and a 'big gap' remains, with the U.S. not interested in reducing softwood lumber tariffs currently near 45 per cent.
  • An Abacus Data poll released Monday shows Canadians divided on response, with 36% favoring counter-tariffs, 30% favoring continued negotiation, and only 18% supporting concessions.
  • Most Canadians are pessimistic about the tariffs being reversed, with only 10% thinking Trump is likely to reverse course before Wednesday, and 40% seeing a '50/50 chance' while 38% say tariffs are likely to hit Canada.
  • Canadians are bracing for economic impact: 70% expect negative effects on their local economy, and 74% say the trade war has already affected their household finances.
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