Hub Podcasts Trumps tariff threats: What is Canada up against?
Oct 28, 2025
Joseph Steinberg, a professor of economics at the University of Toronto, delves into the complex landscape of Trump’s tariff threats against Canada. He discusses how the CUSMA exemption protects most Canadian exports and clarifies the implications of an upcoming Supreme Court ruling on tariff authority. Steinberg explains the differences between various tariff statutes and the ongoing negotiations around CUSMA, emphasizing that the agreement remains secure until 2036, despite looming uncertainties.
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CUSMA Shields Most Canadian Exports
- The CUSMA exemption currently shields most Canadian exports from the proposed blanket tariffs.
- Joseph Steinberg expects any 10% tariff would likely hit only a shrinking slice of trade outside CUSMA coverage.
Supreme Court Ruling Has Limited Immediate Impact
- A Supreme Court loss for the president would likely leave major Canada-targeting tariffs intact.
- Steel, aluminum, autos and softwood tariffs rely on Section 232, a separate authority unaffected by the AIPA case.
Sectoral Tariffs Are Slow And Broadly Applied
- Sectoral tariffs under Section 232 require Commerce Department investigations and take time to implement.
- Many current Section 232 tariffs rely on earlier investigations, limiting quick, new country-specific actions.