Follow all the developments related to the trade war dated August 1, 2025.
Economist Sébastien McMahon, of a financial group, said, in an interview, that almost 90% of Canadian exports are exempt from customs duties, because they comply with the free trade agreement between Canada, the United States and Mexico (ACEUM).
Behind Mexico, Canada is the country whose exports to the United States are the least taxed, even if the Carney government has not reached a commercial agreement before the August 1 deadline, the economist said.
Companies suffer from economic uncertainty, however, has nuanced the president and general manager of the Quebec Chambers of Commerce Federation (FCCQ), Véronique Proulx, in an interview.
Analysis to see | 35%customs tariffs: What does that mean for Canada?
Even if the worst has been avoided, economic uncertainty has led to a reduction in investments, the loss of contracts and launching, recalled the voice of the Quebec business community.
Customs duties imposed by the United States on Canadian products were increased to 35% on Friday, but products in accordance with ACEUM are exempt. Other industries are however affected by other customs duties, including aluminum, copper, timber and the automotive sector.
