Trump’s 50% tariffs on Canada are an approximate 2.5% effective rate increase, less severe than headlines suggest: Economist

Trump’s 50% tariffs on Canada are an approximate 2.5% effective rate increase, less severe than headlines suggest: Economist ANALYSIS 21 JULY 2026 i ARTICLE SUMMARY QUOTES U.S. President Donald Trump’s move to impose 50 percent tariffs on a range of Canadian exports has sparked alarm across the country. But according to a leading trade economist, the actual economic impact may be far less dramatic than the eye-popping headline number suggests. On Monday, Trump signed three proclamations under Section 338 of America’s Tariff Act of 1930—a provision unused for decades—imposing the new duties i…