Carney drops retaliatory tariffs on CUSMA-compliant U.S. goods while keeping pressure on the rest

Prime Minister Mark Carney announced Canada will scrap retaliatory tariffs on American goods that comply with the Canada-U.S.-Mexico Agreement (CUSMA), the trilateral trade framework governing most North American commerce. Retaliatory measures remain on non-CUSMA-compliant U.S. imports. The move follows 50 per cent U.S. tariffs on roughly $20 billion of Canadian products imposed July 20, 2026.