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60GEOPOLITICS

US and Canada escalate trade war with new reciprocal import bans

⚡ Markets: Negative for specific Canadian sectors (dairy, alcohol) and US importers of those goods. The escalating dispute adds to uncertainty for North American supply chains and could weigh on business sentiment and investment in both countries.USDCAD

The trade dispute between the U.S. and Canada has intensified, with the Trump administration banning imports of Canadian dairy, most alcohol, and motorcycles. The move follows Canada's implementation of retaliatory tariffs on U.S. goods, deepening economic friction between the two close allies.

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