U.S. Launches Fresh Wave of Tariffs on Canada and Beyond

The U.S. administration has imposed a dramatic 35% tariff on Canadian imports, effective August 1, and signaled similar duties ranging from 15–20% may soon follow for other key trade partners. The move has rattled global markets, with equity futures dipping and the Canadian dollar weakening sharply. This development reverses a period of calmer trade sentiment and ramps up global economic uncertainty, emphasizing geopolitical risk as a core factor in portfolio management.

Market reaction has been swift. Canadian assets, particularly in sectors like commodities and manufacturing, have been repriced to reflect elevated trade barriers, while the U.S. dollar strengthened amid safe-haven flows. Export-dependent regions in Europe and Asia are also on alert, with potential spillover effects triggering hedging strategies among multinational firms. Investors now face a landscape where global supply chains and trade agreements must be reassessed, and strategy must shift from growth-driven cycles to precision risk management.