Canada will not impose retaliatory tariffs on most U.S. food and other essentials or on components essential to avoiding job loss in key sectors of the economy, the Globe and Mail reported on Tuesday citing comments by two federal trade advisers.

As President Donald Trump’s tariff plan nears, Canadian politician Maxime Bernier calls for scrapping all tariffs, saying Canada’s duties hurt its own people more than the U.S., and a new trade era should begin.

Service sectors make up the vast bulk of the American economy, which gives trading partners some clout in trade negotiations.

Trump made his way back to the White House in no small part because of his promise to better the economy. He's staking a large part of his agenda on broad-based tariffs.

While President Trump called Wednesday's impending tariffs announcement a "liberation day" for the nation, American consumers hold their breath to see how expensive good will become.

President Trump announced sweeping levies on countries across the world. Washington’s partners have been bracing for the fallout.

Yahoo Finance will chronicle the latest news and updates on Trump's tariffs — from the threats to the eventual policy.