Trump Rekindles Tariff Storm with New Measures Against Canada

US President Donald Trump's latest move has sparked renewed tariffs tensions between the US and Canada. According to Mark Warner, principal at MAAW Law, there is 'no surprise' that Trump slapped new tariffs on Canada. The dispute centers around autos, alcohol, and dairy products.

The US claims Canadian policies unfairly restrict American exports, while Ottawa argues some measures are simply a response to the tariffs imposed by the US first.

Benjamin Tal, managing director and deputy chief economist at CIBC Capital Markets Inc., suggested that the Bank of Canada might cut rates if not for the ongoing trade tensions, including the Iran war. However, this is not explicitly stated as a reason for Trump's new tariffs.