MONTREAL — Trade experts say Canadian shippers are adopting a wait-and-see approach to the latest round of tariff threats from Donald Trump, even as a fresh feeling of angst sweeps over the commercial landscape.
The U.S. president on Monday announced 50 per cent import duties that would take effect Aug. 19 on a raft of Canadian products ranging from dairy to dishware to down jackets.
Lachlan Wolfers, national leader at KPMG Law, says manufacturers and exporters hardened by more than a year of on-again, off-again tariff battles view the latest salvo as “the storm before the calm.”
He also says the threats serve to gain leverage in free trade talks by targeting goods with high U.S. market concentration as well as items tied to Canadian identity, such as hockey sticks and skates.
Experts note that Trump has threatened tariffs before in retaliation for alleged Canadian breaches over issues ranging from an electric vehicle deal with China to an Ontario government television ad south of the border, with none of the threats coming to pass.
Prime Minister Mark Carney says he spoke with Trump on Tuesday morning and they agreed to intensify trade negotiations.
This report by The Canadian Press was first published July 22, 2026.
Christopher Reynolds, The Canadian Press
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