VerorbisWhat changed this week
Economy United States · Canada

US-Canada tariff dispute

Talks are back on after an Oct 31 Carney-Trump call; on Nov 3 Carney said the US is 'asking less' and 'offering more.' Tariffs on both sides remain.

Confidence: medium. Carney's account of US concessions has no matching US statement in the stories, and no date for a formal round is reported. · Updated 11 Nov 2026, 2pm ET

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What's happening

Talks collapsed in August 2026, and the US then put 50% tariffs on about $20 billion of Canadian goods under a never-before-used 1930 law (Section 338); Canada responded with matching tariffs. Ottawa wants relief from US tariffs on cars, steel, aluminum and wood products. Talks resumed after an Oct 31 Carney-Trump call, and on Nov 3 Carney said US negotiators were 'asking less' and 'offering more,' while Trump has said a deal is close. After the US midterms, a senior Democratic congressman said his party will work to end Trump's tariffs on allies, including Canada, once it controls Congress next year. Canada's Nov 5 budget aims to reduce reliance on the US, which it says will take time, and sets aside C$44 billion for businesses and workers hit by tariffs.

What changed recently

Key figures

about US$20BValue of Canadian imports hit by the 50% Section 338 tariffs (USTR estimate, August 2026)NBC News · source

Sources