Trump to impose 50% tariffs on most Canadian goods, invoking the ‘nuclear option’ that could unleash a new wave of economic chaos and inflation

President Donald Trump imposed 50% tariffs on most Canadian goods, citing unfair discrimination against American autos, alcohol, and dairy products. The tariffs, invoked under Section 338 of the 1930 Trade Act, aim to address trade imbalances but risk escalating tensions and economic instability, with Canada threatening reciprocal measures. The action excludes energy, potash, fish, and critical minerals but affects goods previously protected under the USMCA trade pact.