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[UPDATE]
In an executive order signed on July 31, 2025, and entered into effect on August 1, 2025, the US Government has elected to increase the current tariff rate on Canadian goods to 35% - an increase of 10% from the tariffs first established in February of this year.
Notably, this does not affect the 10% on certain energy products, and goods covered by CUSMA/USMCA/T-MEC remain exempt from this tariff.
The full executive order can be found here. A fact sheet covering the details of this decision can be found here.
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On July 10, 2025, the US Government made clear its intention to increase tariffs on Canada from the current 25% to 35% beginning on August 1st if a new trade deal is not made.
At this time, it has not been made clear which goods would be affected by this increase, and at the time of reporting, no final decisions have been made.
Leadership in both the Canadian and US governments has been working to make a new trade deal, and a statement from the Canadian PM confirmed their goal of having one in place before August 1st.
To be kept abreast of the latest as it happens, you are encouraged to:
Reported stories are, by their nature, fluid and do not contain confirmed or official documentation from the US Federal Register or the Canadian Gazette. Reported stories are subject to change and should be considered reputable. You are encouraged to investigate further with your news outlet of choice.
