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March 2025 — Tariffs on steel and aluminum
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- March 4: Following the month-long pause, U.S. tariffs come into effect in Canada, along with Canada’s 25 per cent retaliatory tariffs. In a speech at the time, Trudeau said Trump’s decision to launch a trade war was a “really dumb thing to do” and vowed Canada would retaliate as long as necessary.
- March 6: Trump writes in a Truth Social post that he believes Trudeau is using the tariffs “which he has largely caused” in order to run again for Prime Minister, despite Trudeau having already announced his resignation. Trump added: “So fun to watch!”
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- March 7: A U.S. executive order provides an exemption on U.S. tariffs for CUSMA-compliant goods, and Canada pauses its second wave of retaliatory tariffs in response.
- March 12: Tariffs on steel and aluminum come into effect and Canada retaliates by imposing 25 per cent tariffs on select U.S. products imported into Canada.
- March 14: Mark Carney becomes Prime Minister. He says his new government will protect Canadian workers from President Trump’s tariffs and that he plans to grow Canada’s economy by “putting more money in Canadians’ pockets”.
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April 2025 — “Liberation Day”
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- April 2: Trump dubs April 2 “Liberation Day” and imposes 10 per cent tariffs on all imports to the U.S., with higher rates imposed on some countries. In a speech from the White House’s Rose Garden, he claimed that the U.S. has been “looted, pillaged, raped and plundered by nations near and far.” However, the new measures did not affect goods from Canada or Mexico.
- April 3: Trump’s 25 per cent auto tariffs take effect, and Canada matches this with retaliatory tariffs for non-CUSMA-compliant vehicles made in the U.S.
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May 2025 — Courts strike the tariffs down
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- May 28: The U.S. Court of International Trade strikes down Trump’s IEEPA tariffs on imports from Canada, Mexico, and China, ruling they were beyond the authority granted by IEEPA. On Truth Social, Trump calls the decision “so wrong, and so political!” adding, “Hopefully, the Supreme Court will reverse this horrible, country threatening decision, QUICKLY and DECISIVELY.” A U.S. federal appeals court issues an emergency stay on the tariffs, leaving them imposed.
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June 2025 — Digital Services Tax scrapped
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- June 4: Increased tariffs of 50 per cent on aluminum and steel come into effect.
- June 29: Canada announces plans to cancel the Digital Services Tax, a three per cent tax on revenue generated by tech companies within Canada, in order to resume trade negotiations with the U.S. Carney said in a statement at the time that rescinding the tax to better Canada’s relationship with the U.S. was in “the best interests of Canadian workers and businesses.”
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July 2025 — Tariffs increase
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- July 31: Trump signed an executive order increasing tariffs on Canada to 35 per cent for CUSMA noncompliant goods. The same day, the U.S. president wrote on Truth Social that “Tariffs are making America GREAT & RICH again,” claiming that his measures had transformed America from a “dead” country to the “‘hottest’ in the world.”
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August 2025 — Suspension of the “De Minimis” treatment
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- Aug. 1: The 35 per cent tariffs on Canadian goods take effect, as well as 50 per cent tariffs on copper imports.
- Aug. 29: The “De Minimis” treatment for low-value imports coming into the U.S., including from Canada, is suspended, meaning such shipments lose their duty-free status.
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September 2025 — Canada drops some tariffs
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- Sept. 1: Canada drops some retaliatory tariffs imposed in April, but keeps them in place for U.S. tariffs on steel, aluminum, and automobiles.
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October 2025 — Trade negotiations improve, then get worse
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- Oct. 7: Carney meets Trump at the White House and the President praises the PM, saying Carney will leave the round of trade talks “very happy.”
- Oct. 24: But Trump later ends talks with Canada because of an Ontario government TV advert featuring former U.S. president Ronald Reagan. Trump wrote that the ad was “fraudulent” and “fake” on Truth Social, while the Ronald Reagan Presidential Foundation and Institute said that it “misrepresents” the late president’s radio address, in which he discussed tariffs. Ontario Premier Doug Ford said he will stop running the advert in response, but only after it aired during the first two World Series games between the Toronto Blue Jays and L.A. Dodgers.
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