Trump’s 50% tariffs are set to hit Canada in hours. There’s still no deal

As the clock ticks down to midnight, Canada braces for the impact of new 50% tariffs imposed by U.S. President Donald Trump on Tuesday. Unless a trade agreement is reached, these sweeping tariffs will take effect, potentially causing significant economic consequences for various industries and regions in Canada. Canadian Prime Minister Mark Carney discussed ongoing negotiations with Trump over the phone on Monday, but no details of the conversation have been disclosed.

Canadian officials, led by Trade Minister Dominic LeBlanc and chief negotiator Janice Charette, are in Washington, D.C., in a bid to secure a deal with their American counterparts before the deadline. This is the sixth meeting between LeBlanc and U.S. Trade Representative Jamie Greer in the last three weeks, as they strive to present a draft deal for approval by Carney and Trump before Wednesday.

Trump has threatened to impose these tariffs in response to what the U.S. deems as "discriminatory" measures by Canada, including the boycotts of American alcohol products by Canadian provinces and retaliatory tariffs on U.S.-made vehicles, auto parts, and dairy imports. While both sides are not close to signing a trade deal, and a significant gap remains between them, the Canadian economy faces uncertain times with the approaching tariff deadline.