Dashboard / Agriculture
Industry Report — data through Oct 17, 2026

Agriculture

Storm

Crops, livestock, dairy, and processed food products. Canada's supply-managed sectors (dairy, poultry) are a specific point of contention.

Impact
4/5
Significant active measures
Escalation risk
5/5
Major measures pending
Adaptability
3/5
Alternatives exist but costly
Price risk
4/5
Costs flowing to consumers

Dairy is a direct target of the 50% tariff (Aug 2026), justified by the U.S. as a response to Canada's supply management quotas. Field crops face the 10% global tariff. Canadian food prices are up 4–6% year-over-year. The federal government has expanded AgriStability and created new support programs.

In Force

Measures currently active since the 2025 escalation.

Section 338 — 50% duties on selected Canadian products

In Force
Rate 50%
Baseline Various (0% to 25%)
Products Products covered by the current Section 338 annexes, including specified dairy, vehicles, furniture and other goods; selected alcohol, dairy/sweetener and motorcycle goods are now banned separately
Effective Aug 22, 2026
Exemptions Use the amended annexes. September 15 scope changes removed some products and changed stacking; the original exclusion is not a blanket current exemption.
CUSMA Covered goods are subject to Section 338 regardless of CUSMA origin. The September motor-vehicle amendment expressly permits stacking with Section 232.

July 20 proclamations originally set August 19 commencement, paused until August 22. September 8 proclamations changed coverage from September 15 and banned selected imports from September 29. Cement and rock salt were removed from tariff coverage. Pre-ban imports can have different warehouse treatment.

Tariff — Forced Labor Enforcement (10%)

In Force
Rate 10%
Baseline 0%
Products All Canadian goods not entered under USMCA preference
Effective Jul 24, 2026
Exemptions CUSMA-qualifying Canadian goods, specified energy/raw materials and goods subject to Section 232 are excluded under the final action.
CUSMA USMCA-compliant goods exempt

Final action announced July 23, effective July 24, 2026; Canada's listed rate is 10%. Earlier investigation or proposal dates are not the final-action date. Applicable other duties may remain, but the expired Section 122 surcharge must not be stacked into current totals.

Section 338 import ban on selected Canadian alcoholic beverages

In Force
Rate Import prohibition on covered products
Baseline 50% Section 338 duty on covered products before the ban
Products Specified packaged alcoholic beverages under the proclamation's annex; bulk products can have different treatment
Effective Sep 29, 2026
Exemptions Annex-specific coverage and exceptions apply. Goods imported before September 29 can retain separate warehouse-entry treatment.
CUSMA origin does not override the covered import prohibition.

Signed September 8; import exclusion began September 29. This replaces tariff treatment for the prohibited subset, not the entire Section 338 tariff package.

Section 338 import ban on selected Canadian dairy and sweetener products

In Force
Rate Import prohibition on covered products
Baseline 50% Section 338 duty on covered products before the ban
Products Specified dairy preparations, sweeteners and other products under the proclamation's annex
Effective Sep 29, 2026
Exemptions Annex-specific coverage and exceptions apply. Goods imported before September 29 can retain separate warehouse-entry treatment.
CUSMA CUSMA origin does not override the covered import prohibition.

Signed September 8; import exclusion began September 29. This replaces tariff treatment for the prohibited subset, not the entire Section 338 tariff package.

Forecast

Threatened, announced, or scheduled — not yet in force.

CUSMA/USMCA Joint Review — U.S. Declines to Extend

Under Negotiation
Products All goods covered by CUSMA/USMCA
CUSMA CUSMA remains in force; the United States did not confirm an extension at the July 2026 review.

USTR's July 1 statement did not confirm renewal. Review negotiations are not an effective date for withdrawing current preferential treatment. No new enactment or termination date is established by this statement.

Canadian Response

Actions Canada has taken or is pursuing.

Canadian Response

Retaliatory Tariffs on $27.6B of U.S. Goods (September 2026)

Retaliation

Canada's September 8, 2026 countermeasures apply product-specific 15%, 25% and 50% rates to the published U.S. goods list, with announced trade coverage of C$27.6 billion.

Announced Aug 25, 2026
Status In Force
Responds to Section 338 — 50% duties on selected Canadian products
Canadian Response

Agriculture trade-disruption support — multiple programs

Subsidy

Canada's agriculture trade-response support includes FCC's trade-disruption lending and exporter programs. The enhanced 90% AgriStability compensation and C$6 million cap applied to the 2025 program year.

Status In Force
Responds to Section 122 — temporary 10% import surcharge (expired July 24, 2026), Section 338 — 50% duties on selected Canadian products

Latest News

Oct 16, 2026 · bls.gov
U.S. Import Prices Rise 1.1% in September as Fuel Costs Accelerate

Rising U.S. import and export prices, led by fuel, signal broader cross-border cost pressure for Canadian-linked supply chains.

Oct 16, 2026 · canada.ca
Canada’s India Trade Mission Ends With Nearly $300 Million in Commercial Agreements

Canada’s India trade mission secured 34 commercial agreements and kept CEPA talks moving, widening potential market-access opportunities beyond the United States.

Oct 15, 2026 · Financial Post
Canadian manufacturing sales rose in August before latest U.S. tariffs took full effect

Broad gains in metals and chemicals lifted August manufacturing sales, while weaker transportation equipment and pending tariff effects cloud the next data release.

Oct 15, 2026 · Canada.ca
Ottawa and Atlantic provinces renew fisheries fund with more than $300 million commitment

A renewed five-year fisheries fund will finance export readiness, technology and sustainability projects across Atlantic Canada’s seafood value chain.

Oct 14, 2026 · Canada.ca
Canada begins nearly $9 million Glace Bay wharf project

Construction is underway on a new Glace Bay wharf and harbour systems, supporting safer operations for the local commercial fishery through 2027.

Oct 14, 2026 · Canada.ca
Agriculture minister heads to Brussels and Paris for EU trade outreach

Canada’s agriculture minister will promote exporters in Europe, reinforcing engagement in a major market without announcing new market-access measures.

Oct 13, 2026 · Canada.ca
Canada and Ontario commit nearly $22 million to agri-food market diversification

New Ontario funding targets export expansion and production capacity, giving more than 130 agri-food businesses support to broaden sales channels.

Oct 9, 2026 · Financial Post
Canada’s September job losses deepen labour-market caution amid tariff uncertainty

Canada lost 68,000 jobs in September, lifting unemployment to 6.5 per cent and adding caution for employers and monetary policymakers.

Oct 9, 2026 · Canada.ca
Canada directs $11.2 million to Saskatchewan firms through tariff-response and productivity programs

Federal funding will support eight Saskatchewan projects, helping manufacturers expand capacity, upgrade operations and pursue markets amid tariff-related disruption.

Oct 7, 2026 · Canada.ca
Canada outlines proposed red-tape bill affecting farm programs, border trials and food trade

Ottawa’s proposed omnibus bill would simplify agricultural and border-related rules, but businesses will not see changes unless Parliament adopts the amendments.

Oct 7, 2026 · cbc.ca
Latest Canada-U.S. escalation seen pushing up prices and narrowing consumer choice

Retail and supply-chain experts expect the latest tariff escalation to lift Canadian prices and complicate sourcing, while broad product availability largely holds.

Oct 2, 2026 · ianslive.in
Greer says U.S. trade deals now cover over 40% of goods trade as Canada talks remain unresolved

U.S. Trade Representative Jamieson Greer said new reciprocal-trade deals broaden market-access commitments while technical discussions with Canada continue without resolution.

Oct 2, 2026 · Global Affairs Canada
Canada sets October 5–9 negotiating round for India trade pact

A newly specified negotiating window and October trade-mission dates give Canadian exporters concrete milestones as the proposed India pact advances.

Oct 1, 2026 · agbull.com
U.S. CRP Enrollment Paused After Farm Bill Authority Lapses

A lapse in U.S. CRP authority halts new and renewed conservation contracts, leaving prospective participants without enrollment certainty for 2027 planning.

Sep 29, 2026 · CFJC Today Kamloops
U.S. import bans on Canadian liquor, whey and motorcycles take effect

New U.S. bans now block selected Canadian imports, exposing nearly US$1 billion in trade while support expands for affected Ontario businesses.

Sep 29, 2026 · CBC
Deloitte cuts 2027 Canada growth forecast as trade uncertainty deepens

Deloitte lowered its 2027 Canadian growth outlook to 1.6 per cent, signalling a weaker near-term environment for households and businesses.

Sep 29, 2026 · abcnews.com
BRP says Can-Am motorcycles are excluded from new U.S. import ban, with effects likely delayed

BRP expects its Can-Am import disruption to emerge next year, while the new U.S. ban adds pressure on selected Canadian consumer-product exporters.

Sep 29, 2026 · Diplomacy and Law
U.S. import exclusions for selected Canadian goods take effect, replacing 50% duties

Specified Canadian alcohol, dairy-linked products and large-engine motorcycles now face U.S. import exclusion, cutting off entry rather than raising landed costs.

Sep 29, 2026 · CBC
U.S. alcohol import ban cuts off Canadian producers as trade dispute escalates

A U.S. import ban now blocks selected Canadian alcohol shipments, interrupting smaller producers’ market access and planned American expansion.

Sep 28, 2026 · BNN Bloomberg
Trump Signals Expectation of Canada-U.S. Trade Deal Within Weeks

Trump set a three-to-four-week expectation for renewed Canadian outreach, but negotiations remain frozen as new import restrictions approach.

Sep 28, 2026 · New York Post
Analysis maps $188B Canada trade exposure across competitive U.S. Senate states

A new state-level analysis highlights concentrated Canada trade exposure in battleground states, sharpening the business stakes of continuing tariffs and retaliation.

Sep 28, 2026 · CP24
Ottawa distillery shifts European as U.S. import ban nears

SFR Distillery has shelved a planned U.S. push and will seek European buyers, redirecting its export strategy ahead of the import ban.

Sep 27, 2026 · livemint.com
Whey price spike puts protein products in trade-dispute crossfire

Record U.S. whey concentrate prices and new cross-border restrictions are raising cost and supply risks for protein-product makers.

Sep 27, 2026 · CNN
Canadian Protein Makers Stockpile U.S. Whey as Tariffs Disrupt Supply Chains

Canadian protein-food producers are financing larger whey inventories and considering costly reformulations, raising the risk of higher consumer prices and supply constraints.

Sep 25, 2026 · The Straits Times
USTR signals no urgency for Canada trade deal as dispute risks deepen

Washington’s stated willingness to sustain the standoff reduces near-term prospects for relief as further trade restrictions approach.

Sep 25, 2026 · latimes.com
Canada Trade Dispute Adds Affordability Pressure to U.S. Senate Campaigns

New polling and analyst assessments suggest the Canada trade conflict is sharpening affordability concerns in closely contested U.S. Senate states.

Sep 25, 2026 · inc.com
Vermont Cheesemaker Reports Nearly $1M Canadian Sales Loss as Tariff Costs Persist

Jasper Hill Farm says lost Canadian cheese sales and higher domestic costs show how tariffs are straining a cross-border specialty-food exporter.

Sep 24, 2026 · retail-insider.com
Wellness businesses flag tariff pressure on whey and gluten-free supply chains

Canadian wellness businesses report rising sourcing, pricing and market-access risks as tariffs squeeze cross-border whey and specialized food trade.

Sep 24, 2026 · CBC
Whey shortage and dairy tariffs squeeze Canadian protein retailers

A global whey-protein supply crunch and new dairy tariffs are raising Canadian retailers’ input costs while farms shift production toward higher-protein milk.

Sep 24, 2026 · Yahoo! Finance Canada
Canada and Vietnam elevate ties to strategic partnership in Ottawa

Canada and Vietnam elevated bilateral relations, opening a broader framework for energy, agricultural, investment and innovation cooperation.

Sep 24, 2026 · gibsondunn.com
Legal Alert Flags Rising Compliance Burden From Rapid U.S. Economic Measures

A September 23 legal assessment says rapidly changing U.S. trade and sanctions measures are raising compliance demands and uncertainty for companies operating across borders.

Sep 23, 2026 · freightwaves.com
Canada-U.S. Rail Volumes Rebound After Short-Lived Ban Shock

Canada-to-U.S. loaded rail-container traffic quickly recovered after a September ban-related drop, limiting the immediate disruption to broader freight flows.

Sep 23, 2026 · United States Trade Representative (.gov)
USTR Completes FY 2027 Raw Cane Sugar Quota Allocation

The United States assigned the remaining FY 2027 raw sugar quota volume, clarifying eligible import access ahead of the October entry date.

Sep 23, 2026 · Farm Credit Canada
FCC finds food-sector sales growth masks trade and margin pressure

FCC reports flat real sales despite nominal growth, with uneven food and beverage performance and trade barriers complicating the margin outlook.

Sep 22, 2026 · BNN Bloomberg
Canadian wine sales rise at home as U.S. restrictions threaten export market

Canadian wineries report stronger domestic demand, but looming U.S. restrictions threaten Ontario-led exports and icewine sales.

Sep 22, 2026 · theglobeandmail.com
Canada’s EU trade push faces regulatory, logistics and market-access limits

Unused farm quotas, regulatory gaps and infrastructure constraints could limit how quickly Canadian firms turn stronger EU trade into broader diversification.

Sep 20, 2026 · montreal.citynews.ca
Wet harvest conditions and elevated fuel costs squeeze Prairie farm margins

Delayed Prairie harvests and sharply higher diesel and fertilizer costs are increasing cash-flow pressure for farmers despite stronger expected 2026 revenues.

Sep 16, 2026 · castanet.net
Estimate puts Canadian agri-food exposure from U.S. measures at up to $2.8 billion annually

New estimates put Canadian agri-food exposure at up to $2.8 billion annually, with counter-tariffs potentially adding to grocery inflation next year.

Sep 15, 2026 · NPR
Montana grain farmers cite higher Canadian equipment costs amid tariff dispute

Montana grain producers say Canadian retaliatory tariffs are raising equipment costs and reinforcing efforts to cut input dependence.

Sep 15, 2026 · caixabankresearch.com
U.S. effective tariff rate settles below 7% as Canada retains USMCA cushion

A research assessment finds U.S. tariff incidence has eased, while Canadian firms still face a more targeted and legally exposed trade regime.

Sep 15, 2026 · CBC
Newfoundland and Labrador firms adjust as tariffs and alcohol ban disrupt customer plans

A motorcycle dealer and vodka producer are holding prices where possible while redirecting sales efforts amid cross-border trade uncertainty.

Sep 15, 2026 · CBC
U.S. 50% tariffs take effect on 110 Canadian products as selected exemptions begin

New U.S. duties now cover 110 Canadian product lines, narrowing some firms’ routing options despite near-offsetting exemptions.

Sep 14, 2026 · atlanticcouncil.org
Atlantic Council analysis finds U.S. tariffs are eroding practical FTA benefits

New analysis finds executive tariffs have lifted effective rates for U.S. free-trade partners, while CUSMA still cushions most Canadian and Mexican imports.

Sep 14, 2026 · CBC
Canada’s First-Half Exports to China Rise 30%, Led by Energy and Minerals

Stronger Canadian sales to China, driven primarily by energy, widened an alternative export channel while gains remained uneven across sectors.

Sep 13, 2026 · biz.chosun.com
Trump Says Canada Deal Could Come Soon, Rules Out USMCA Exit

Trump’s comments preserve the North American trade framework but offer no timetable or evidence that formal Canada-U.S. negotiations have restarted.

Sep 12, 2026 · hpj.com
Economist Warns U.S.-Canada Tariff Conflict Could Deepen Risks for Agriculture

An agricultural trade economist warned the bilateral tariff dispute may persist, leaving farm exporters, input buyers and consumers exposed to uncertainty.

Sep 11, 2026 · BNN Bloomberg
Cross-Border Shippers Report Steeper U.S. Customs Scrutiny and Penalties

Tighter U.S. border enforcement is adding paperwork, compliance costs and potential delays for Canada-U.S. freight movements.

Sep 10, 2026 · Yahoo! Finance Canada
Carney says Canada is assessing latest U.S. measures and may adjust retaliation

Ottawa is reviewing new U.S. trade restrictions and keeps a retaliatory response on the table, prolonging uncertainty for affected importers and exporters.

Sep 10, 2026 · 650 CKOM
New Brunswick tightens public purchasing rules as Ontario broadens tariff aid

New Brunswick will restrict major U.S. public contracts while Ontario expands tariff-program eligibility, increasing pressure for firms to localize procurement and finance adjustments.

Sep 10, 2026 · CityNews Toronto
Ontario widens tariff-support eligibility as new U.S. measures approach

Ontario is expanding access to two business-support funds, giving tariff-exposed firms financing and trade-adjustment options as new U.S. restrictions begin.

Sep 9, 2026 · CityNews Montreal
Montreal cheese retailers pivot toward Quebec products as tariff pressures reshape demand

Montreal shoppers and a specialty retailer are shifting toward Quebec cheese as tariff uncertainty weakens demand for American products and threatens export competitiveness.

Sep 9, 2026 · Financial Post
Desjardins flags double tariff shock for Canadian manufacturers as counter-levies take effect

Canadian counter-tariffs may intensify tariff pressures on manufacturers and other sectors by raising costs for U.S.-sourced inputs and complicating supply chains.

Sep 9, 2026 · straitstimes.comIndustry rating changed
U.S. Sets Sept. 29 Import Bans on Canadian Alcohol, Motorcycles and Dairy

Washington’s new import bans and expanded 50% tariff list deepen immediate disruption for Canadian dairy and food exporters ahead of Sept. 29.

Sep 8, 2026 · 620 CKRM
Saskatchewan’s 50% U.S. alcohol levy begins as federal counter-tariffs take effect

Federal surtaxes on more than $27 billion of U.S. imports are now active, with Saskatchewan adding a new online alcohol charge.

Sep 8, 2026 · Farms.com
Alberta Pork urges producers to assess input exposure under new retaliatory tariffs

Alberta Pork urged hog producers to assess U.S.-origin input exposure as Canada’s retaliatory tariffs took effect, focusing on construction and feed-related needs.

Sep 8, 2026 · BNN Bloomberg
Bombardier shares slide as Canada’s retaliatory tariffs take effect

Canada’s counter-tariffs on roughly 700 U.S. imports took effect as Bombardier shares fell following a U.S. market-access threat.

Sep 8, 2026 · IndexBox
Trump Threatens to Block Bombardier Sales as Canada’s C$27.6 Billion Counter-Tariffs Take Effect

Canada’s counter-tariffs on U.S. goods take effect as a reported Bombardier sales threat adds uncertainty to cross-border trade relations.

Sep 8, 2026 · BNN Bloomberg
Canada’s retaliatory tariff schedule targets U.S. dairy, wood, metals and consumer goods

Canada’s retaliatory tariffs took effect Tuesday, imposing duties of up to 50 per cent on specified U.S. imports.

Sep 8, 2026 · hcamag.comIndustry rating changed
Canada’s $28B Counter-Tariffs Take Effect Without Broad CUSMA Relief

Canada’s new retaliatory duties now raise costs for a wide range of U.S. exports, while Washington signals possible further action.

Sep 8, 2026 · Al Jazeera
Canada tariff retaliation prompts U.S. procurement warning and Bombardier sales threat

Canada has imposed retaliatory tariffs on nearly $20bn of US imports, escalating pressure on integrated North American supply chains.

Sep 4, 2026 · kcur.org
U.S. Farmers Face Dairy Export, Equipment and Fertilizer Risks Before Canadian Counter-Tariffs

Farm-sector representatives say the escalating tariff exchange threatens dairy sales, machinery affordability and production planning across the United States.

Sep 4, 2026 · Tri-State Livestock News
Montana Farm Bureau Flags Farm Equipment Exposure Ahead of Canadian Counter-Tariffs

Montana producers face higher costs for Canadian machinery as pending counter-tariffs threaten trade with the state’s largest foreign market.

Sep 3, 2026 · disruptionbanking.com
Report Says Canada Replaced Proposed U.S. Seafood Tariff With Duties on Copper Wire and Wood Charcoal

Canada reportedly adjusted planned September counter-tariffs, sparing U.S. seafood while shifting prospective import-cost exposure to copper wire and wood charcoal.

Sep 3, 2026 · rmb.reuters.com
Canada’s July Goods Surplus Contracts as U.S. Exports Decline

Lower energy and metals shipments cut Canada’s July goods surplus sharply, while record vehicle imports further reduced the bilateral U.S. trade cushion.

Sep 3, 2026 · winnipegfreepress.com
Deloitte Models Economic Costs of a Potential U.S. Withdrawal From CUSMA

Deloitte projects that a CUSMA collapse would substantially weaken Canadian output and manufacturing, with trade diversification unable to fully offset the loss.

Sep 1, 2026 · WJR-AM
Michigan Manufacturers Flag Potential Exposure to Canada’s September 8 Counter-Tariffs

Michigan manufacturers are preparing for Canadian counter-tariffs scheduled to take effect September 8, with the Michigan Manufacturing Association warning that the state’s broad industrial supply chains could make it unusually exposed. WJR cited a Detroit News estimate that roughly US$1.5 billion in Michigan exports could be affected and identified automotive, cement and food-related activity as areas of concern.[1]

Aug 29, 2026 · Globe and Mail / CBC News
Canadian Banks Beat Q3 Estimates; RBC Cites Limited Tariff Exposure

RBC, TD, and CIBC reported third-quarter profits above analyst estimates. RBC CEO Dave McKay said more than 80% of Canadian exports remain duty-free and the average effective tariff rate is approximately 6%. TD said it holds about C$500 million in reserves for policy and trade risks.

Aug 28, 2026 · Oxford Economics
Oxford Economics: Latest Tariff Escalation Could Cut Canada's 2027 GDP by 0.3 Points

Oxford Economics estimates the latest U.S. tariff escalation and Canadian counter-tariffs could leave Canada's real GDP 0.3 percentage points below its August baseline in 2027 and lift consumer prices by 0.3 percentage points. The forecast is an estimate, not an observed result.

Aug 28, 2026 · Statistics Canada
Canada's Q2 GDP Grew 3.3% Annualized — Strongest Since 2023 — As Trade War Escalated

Canada's real GDP grew 0.8% in the second quarter of 2026, equivalent to a 3.3% annualized rate and the strongest quarterly expansion since 2023. Final domestic demand rose 1.0%, June GDP increased 0.3%, and Statistics Canada's preliminary estimate indicated little change in July.

Aug 25, 2026 · CBC News / Washington Post / Global NewsIndustry rating changed
Canada Announces Retaliatory Tariffs on $27.6B of U.S. Goods

After trade talks collapsed and U.S. Section 338 tariffs took effect, Ottawa announced 15–50% counter-tariffs on approximately 874 U.S. products, effective September 8, 2026. Targets include steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.

Aug 22, 2026 · CBC News / Prime Minister's Office
Canada Lifts Some Import Tariffs on U.S. Goods in Bid to Restart Trade Talks

Alongside its counter-tariff announcement, the Carney government indicated it would lift select tariffs on U.S. agricultural products, consumer goods, and machinery effective September 1, as a negotiating gesture. Carney noted approximately 85% of bilateral trade is already tariff-free. The selective easing is separate from the broader September 8 counter-tariff package, which remains on track.

Aug 22, 2026 · Washington Post / ReutersIndustry rating changed
U.S. Section 338 Tariffs Take Effect After Trade Deal Collapses

50% Section 338 tariffs on Canadian dairy, alcohol, and motor vehicles took effect after a brief 3-day pause. First use of Section 338 of the Tariff Act of 1930. Trade talks between Carney and Trump officials collapsed, ending the pause.

Jul 24, 2026 · PwC CanadaIndustry rating changed
Section 301 Tariff Hits Canada and 59 Other Countries Over Forced Labor

USTR imposed a 10% tariff on Canadian goods under Section 301, citing failure to enforce forced labor import prohibitions. Not Canada-specific — 60 countries affected. USMCA-compliant goods are exempt.

Jul 15, 2026 · Dalhousie University Food Price Report / Statistics Canada
Canadian Food Prices Up 4–6% Year-Over-Year as Tariff Costs Flow Through

Canada's Food Price Report projects 4–6% food price increases in 2026, with an average family of four spending up to $994 more annually. Tariffs and counter-tariffs are a significant driver. Tomato prices surged 45% YoY. Beef, chicken, and vegetables lead increases.

Jul 1, 2026 · White & Case / USTRIndustry rating changed
U.S. Declines to Extend CUSMA, Triggering Annual Review Process

At the mandatory six-year joint review, the U.S. declined to confirm a 16-year extension of CUSMA/USMCA. The agreement remains in force but faces annual reviews until 2036. Canada has not begun substantive text-based negotiations with the U.S.

Feb 1, 2026 · Multiple / Wikipedia timelineIndustry rating changed
U.S. Supreme Court Rules IEEPA Cannot Be Used to Impose Tariffs

The Supreme Court held that does not authorize the President to impose tariffs, invalidating the legal basis for the 25–35% broad tariffs on Canadian goods that had been in force since February 2025. CBP stopped collecting IEEPA tariffs on February 24. Importers became eligible for refunds.

Consumer Impact

Related product categories and price pressure.

Groceries
Trend ↑ rising
YoY +5.5%
Exposure medium
Future increasing
Dairy Products
Trend ↑ rising
YoY +4.2%
Exposure high
Future increasing
Alcoholic Beverages
Trend ↑ rising
YoY +3.5%
Exposure high
Future increasing