Bloomberg
Can Canada Still Trust America on Trade?
Sunday, August 23, 2026
Canada's Deputy Prime Minister and Finance Minister Chrystia Freeland said a tentative US-Canada trade agreement could prevent new US tariffs, contingent on Canadian concessions including reduced retaliation measures, allowing US alcohol into provincial stores, and alignment with Washington on digital policy issues. The agreement would maintain existing US tariffs on Canadian steel, aluminum, cars and auto parts at reduced levels. Freeland stated this represents a shift from Canada's previous position that such tariffs violate the USMCA trade agreement.
