Here's what we know about which U.S. goods are still subject to Canadian tariffs
There are a further set of exemptions, too. The first is an exemption for some auto manufacturers that continue to produce vehicles in Canada and carry out planned corporate investments. This represents a $35.6-billion exemption, analysis suggests.
Article content
The second, writes Tony Stillo of Oxford Economics, is for 'manufacturing, processing, and food and beverage packaging, and on those used for public health, health care, public safety, and national security.' This, likely worth a bit more than $20 billion, includes some steel and aluminium. This exemption will run for six months, from mid-April to mid-October 2025.
Article content
'A lot of those intermediate goods that go into manufacturing, food packaging and things of that nature, are eligible for relief,' said Stillo in an interview.
Article content
Yes. 'There's still a degree of uncertainty about what qualifies for exemption,' said Stillo.
Article content
Article content
There are several exemption categories that are less clear. This includes the public health, health care, public safety and national security products, which Stillo estimates are worth around $3.2 billion.
Article content
Why are some things tariffed and others not?
Article content
While it's tough to say exactly why some decisions were made by the federal government, Stillo has a hunch: There are some goods that are easily replaced. For example, Canadians can buy Canadian chicken instead of American chicken. Or chicken could be sourced from other countries. This is similarly true with all sorts of food and all sorts of cosmetics and clothing.
Article content
However, there are some goods and materials moving through North America's heavily integrated supply chain that can't easily be swapped out.
Article content
'What the government's trying to do, and I think this is really a good plan, is we realize that it's going to be tough for a lot of our manufacturers to source from non-U.S. sources, and they're giving them time to find an alternative source,' said Stillo. 'I think the Canadian government appreciates the damage that a trade war can inflict, and they strategically aim to target counter tariffs that would be more harmful to the U.S. and Canada.'
Article content
Article content
What does this all mean?
Article content
It also means that, fundamentally, the United States has an effective tariff rate of 14.1 per cent on Canadian goods, while Canada's effective tariff rate is more like 2.8 per cent, if you account for all the tariff relief.
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
25 minutes ago
The U.S. economy is thriving in spite of tariffs. Will it last?
By just about every indicator, the U.S. economy is holding up remarkably well. When Donald Trump launched his global trade war, economists and markets said his tariff policy would slow the economy, drive up prices and dramatically reduce global trade. And yet, stocks are at all-time highs, the country's employment is strong, its economy is expanding and the expected surge in inflation hasn't materialized. Canada's economy has shown surprising resilience, as well, with consumer spending starting to pick up last month and unemployment declining. Economists told CBC News it's unclear whether the tariffs' impact was overestimated, or if further pain lies ahead. But they say resilience in both countries is fragile, and could be quickly upended if the trade war worsens or expands. A lack of retaliation BMO's chief economist Douglas Porter says two key factors are driving the recent U.S. resilience. Other nations have not really been retaliating against the U.S., so their own exports are not facing that much pressure. And on the flip side, the U.S. consumer has been pretty heavily sheltered so far from this, said Porter. In the meantime, American businesses have not passed on the costs of tariffs. General Motors, for example, released earnings last week that said Trump's tariff policies drove down profits by 35 per cent in the second quarter. The automaker said tariffs on cars and parts led to a $1.1-billion US loss in its quarterly earnings. But still, it has not increased prices. Enlarge image (new window) GM said its profits fell by $1.1 billion US in the second quarter of this year as a result of Trump's tariffs. Photo: Reuters / Chris Helgren Royce Mendes, managing director at Desjardins Capital Markets, says that's becoming a trend among affected American companies. Some companies may choose to just eat the tariff increase in costs rather than draw the ire of President Trump, said Mendes. GM stock fell on the news, but has since rebounded, paring losses and climbing almost all the way back to where it was before it published its earnings. Financial markets have had some pretty volatile sessions, including steep sell-offs when tariffs are announced, and big rallies when exemptions are made. But stock markets in both Canada and the U.S. are at or near record highs — which investors believe is a sign that the resilience we're seeing will last. A stockpile of products The question, though, is whether the impact of the tariffs has simply been delayed. When the levies were first announced last spring, businesses around the world scrambled to get product out the door and into the United States. That has led to a huge stockpile of products — and it means American importers have not yet had to bear the worst of the tariffs. WATCH | The future of Canada-U.S. free trade: There was a lot of front-running and that may be one of the big reasons why we haven't seen much impact yet, said BMO's Porter. There's probably some pain to come, but I don't think it's going to be as bad as many economists were fretting about earlier this year, at least for the U.S. Canada's economy has shown resilience, too But both economists point to the fact that Canada's economy has also fared better than almost anyone had expected. Economic growth shrank in April, but only by 0.1 per cent. Statistics Canada says another 0.1 per cent decline is likely for May. (Those numbers will be confirmed on Thursday.) The unemployment rate has actually begun to decline since peaking in May at seven per cent. And last week's retail sales figures showed consumer spending had started to pick up again in June. We've been pointing to this broader resilience in consumer spending, said Claire Fan, a senior economist with RBC. She says consumer sentiment plunged in the spring, at the height of the uncertainty. But since then, RBC crunched U.S. customs data and found exemptions for CUSMA-compliant products (new window) have dragged the average effective tariff rate all the way down to as low as 2.3 per cent. It's a reflection of President Trump's overall strategy of coming out very aggressive early on, but then walking things back. I mean, the tariffs have not been as punitive for Canada as initially believed — nowhere close to it, said Mendes of Desjardins. Sector-specific pain However, real damage has been done in sectors like auto, steel, aluminum and lumber. The concern now is that the carve-outs Canada has secured for CUSMA-compliant products won't last. Unless a trade deal is reached to significantly reduce U.S.-Canada tariffs by Aug. 1, when new U.S. tariffs are set to come into effect, we expect job losses and higher prices from tariffs to squeeze disposable income and cause households to tighten their purse strings, wrote Michael Davenport, senior economist at Oxford Economics in a note to clients. WATCH | Negotiations continue between Canada and the U.S.: On the one hand, some in the Trump administration will look at the U.S. economy's relative resilience as a reason to double down and push harder for more and more punitive tariffs. But escalation wouldn't just be bad for the Canadian economy. Right now, most businesses and consumers on both sides of the border have been sheltered from the worst impacts of the tariffs. That shelter depends on a fine and tricky balance of importers eating some costs, exporters dropping some prices and countries limiting retaliatory measures. Upending that balance further comes with risks on both sides of the dispute. Peter Armstrong (new window) · CBC News · Senior Business Reporter Peter Armstrong is a senior business reporter for CBC News. A former host of On the Money and World Report on CBC Radio, he was previously a foreign correspondent and parliamentary reporter for CBC. Subscribe to Peter's newsletter here: Twitter: @armstrongcbc
Cision Canada
25 minutes ago
- Cision Canada
Great Northern Energy Metals Announces Change of Name and Stock Symbol
CSE: GNEM VANCOUVER, BC, July 28, 2025 /CNW/ - Great Northern Energy Metals Inc. (" GNEM" or the " Company") (CSE: GNEM) is pleased to announce that effective July 31, 2025, the Company will change its name to "American Atomics Inc." to better reflect the Company's business (the " Name Change"). "We are excited to announce our name change and new ticker symbol. This is another step completed in our plans to advance our projects in the US and to assist in positioning us as more than a uranium miner but a company committed to being a participant in the global nuclear energy fuel cycle" stated David Mitchell CEO. Subject to final approval of the Canadian Securities Exchange (the " CSE"), it is anticipated that the common shares in the capital of the Company (the " Shares") will commence trading on the CSE under the new name on July 31, 2025, with the new stock symbol "NUKE". There is no consolidation or change in the Company's share capital contemplated in connection with the Name Change. The Name Change and stock symbol was approved by the board of directors of the Company in accordance with the Company's governing corporate legislation, the Business Corporations Act (British Columbia), and the Company's constating documents. Shares certificates bearing the previous company name "Great Northern Energy Metals Inc." continue to be valid in the settlement of trades and will only be replaced with certificates bearing the new name upon transfer. The Company is not requesting, and shareholders are not required to, exchange their existing share certificates for new certificates bearing the new Company name. On Behalf of the Board of Great Northern Energy Metals Inc. "David Mitchell" CEO & Director About Great Northern Energy Metals Inc. GNEM is a Canadian-based exploration and development company focused on securing and developing critical energy metals, including uranium. The Company's mission is to support the global transition to clean energy through responsible resource development. Cautionary Note Regarding Forward-Looking Statements This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Winnipeg Free Press
25 minutes ago
- Winnipeg Free Press
Darren Walker's new book is still hopeful despite growing inequality as he leaves Ford Foundation
NEW YORK (AP) — Darren Walker needed to be convinced of his new book's relevance. The outgoing Ford Foundation president feared that 'The Idea of America,' set to publish in September just before he leaves the nonprofit, risked feeling disjointed. In more than eight dozen selected texts dating back to 2013, he reflects on everything from his path as a Black, gay child from rural Texas into the halls of premiere American philanthropies to his solutions for reversing the deepening inequality of our 'new Gilded Age.' 'To be clear, not everything I said and wrote over the last 12 years is worthy of publication,' Walker said. A point of great regret, he said, is that he finds American democracy weaker now than when he started. Younger generations lack access to the same 'mobility escalator' that he rode from poverty. And he described President Donald Trump's administration's first six months as 'disorienting' for a sector he successfully pushed to adopt more ambitious and just funding practices. Despite that bleak picture, Walker embraces the characterization of his upcoming collection as patriotic. 'My own journey in America leaves me no option but to be hopeful because I have lived in a country that believed in me,' he said. Walker recently discussed his tenure and the book's call for shared values with the Associated Press inside his Ford Foundation office — where an enlarged picture of a Black child taken by Malian portrait photographer Seydou Keïta still hangs, one of many underrepresented artists' works that populated the headquarters under his leadership. This interview has been edited and condensed for clarity. Q: Upon becoming Ford Foundation's president, you suggested that 'our most important job is to work ourselves out of a job' — a 2013 statement you include in the book. How would you grade your efforts? A: The past 12 years have been both exhilarating and exhausting. Exhilarating because there's never been a more exciting time to be in philanthropy. And exhausting because the political, socioeconomic dynamics of the last 12 years are very worrisome for our future. Philanthropy can play a role in helping to strengthen our democracy. But philanthropy can't save America. I would probably give myself a B or a B-. I don't think where we are as a nation after 12 years is where any country would want to be that had its eye on the future and the strength of our democracy. Q: Is there anything you would do differently? A: In 2013 and those early speeches, I identified growing inequality as a challenge to the strength of our democracy. And a part of that manifestation of growing inequality was a growing sense of disaffection — from our politics, our institutions, our economy. For the first time, a decade or so ago, we had clear evidence that working class white households were increasingly downwardly mobile economically. And the implications for that are deep and profound for our politics and our democracy. We started a program on increasing our investments in rural America, acknowledging some of the challenges, for example, of the trends around the impacts of the opioid epidemic on those communities. I underestimated the depth and the collective sense of being left behind. Even though I think I was correct in diagnosing the problem, I think the strategy to respond was not focused enough on this population. Q: Many people credit you for using Ford Foundation's endowment to increase grantmaking during the pandemic. Is that sort of creativity needed now with the new strains faced by the philanthropic sector? A: One of the disappointments I have with philanthropy is that we don't take enough risk. We don't innovate given the potential to use our capital to provide solutions. I do think that, in the coming years, foundations are going to be challenged to step up and lean in in ways that we haven't since the pandemic. The 5% payout is treated as a ceiling by a lot of foundations and, in fact, it's a floor. During these times when there's so much accumulated wealth sitting in our endowments, the public rightly is asking questions about just how much of that we are using and towards what end. Q: Where do you derive this sense of 'radical hope' at the end of your book? A: As a poor kid in rural Texas, I was given the license to dream. In fact, I was encouraged to dream and to believe that it will be possible for me to overcome the circumstances into which I was born. I've lived on both sides of the line of inequality. And I feel incredibly fortunate. But I'm also sobered by the gap between the privileged and the poor and the working-class people in America. It has widened during my lifetime and that is something I worry a lot about. But I'm hopeful because I think about my ancestors who were Black, enslaved, poor. African Americans, Black people, Black Americans have been hopeful for 400 years and have been patriots in believing in the possibility that this country would realize its aspirations for equality and justice. That has been our North Star. Q: Heather Gerken, the dean of Yale's law school, was recently named as your successor. Why is it important to have a leader with a legal background and an expertise in democracy? A: She is the perfect leader for Ford because she understands that at the center of our work must be a belief in democracy and democratic institutions and processes. She is also a bridge builder. She is a coalition builder. She's bold and courageous. I'm just thrilled about her taking the helm of the Ford Foundation. Monday Mornings The latest local business news and a lookahead to the coming week. It is a signal from the Ford Foundation Board of Trustees that we are going to double down on our investment and our commitment to strengthening, protecting and promoting democracy. Q: Youtold AP last year that, when you exited this building for the last time, you'd only be looking forward. What does 'forward' mean to you now? A: I have resolved that I don't want to be a president or a CEO. I don't need to be a president of CEO. I think leaders can become nostalgic and hold onto their own history. Now there's no doubt, I know, that my obituary is going to say, 'Darren Walker, the president of the Ford Foundation.' That's the most important job I'll ever have. But hopefully I'll be able to add some more important work to that. ___ Associated Press coverage of philanthropy and nonprofits receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP's philanthropy coverage, visit
