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.

Canada is bracing for the fallout of President Donald Trump’s escalating trade war, with economists warning of spiking grocery prices, major job losses and even a potential recession if threatened

Canadian Prime Minister Mark Carney reiterated his intention to slap retaliatory tariffs against the U.S. should the country be targeted under President Trump’s latest batch of tariffs coming Wednesday.

Trump has repeatedly called April 2 "Liberation Day." He is expected to enact reciprocal tariffs on major trading partners, especially those that contribute the most to the $1.2 trillion U.S. trade deficit.

This analysis from the CSIS Economics Program and Scholl Chair in International Business unpacks the April 2 tariff announcements from the White House.

Donald Trump has dubbed Wednesday April 2, 2025, "Liberation Day." What is it, and how does it apply to tariffs in the United States?

Mr. Trump announced last week that vehicles and auto parts imported into the U.S. will be subject to a 25% tariff rate. The auto tariffs are expected to go into effect at midnight, just hours after the latest round of tariff announcements by the president Wednesday afternoon.

President Donald Trump announced 10% reciprocal tariffs on all countries, as well as far higher levies for some trading partners, including China.

President Donald Trump said countries, whether staunch allies or adversaries, would be subject to at least a 10% tariff.