TORONTO — Roughly $900 billion in annual trade between Canada and the United States — and with it, traditionally chummy bilateral ties — is on the brink of upheaval, with President Donald Trump threatening to impose sweeping tariffs on Canada as early as this weekend.

New U.S. tariffs on Canadian exports threaten CUSMA, forcing Canada to rethink trade strategies amid rising protectionism.

Mr. Trump and the White House have repeatedly said they intend to impose tariffs on Canada and Mexico on Saturday, prompting a renewed effort by the Canadian government to seek relief that included a multiday visit to Washington by Foreign Minister Mélanie Joly, who met Wednesday with Secretary of State Marco Rubio.

The Bank of Canada has cut the overnight rate by 25bp to 3.0%. Cumulative easing now amounts to 200bp since June. The BoC has also announced an end to its quantitative tightening programme, which had been used to shrink its balance sheet. Instead, it will restart gradual asset purchases so its balance sheet stabilises as a proportion of GDP.

Canadian officials are preparing retaliatory measures if the new U.S. administration imposes tariffs on Canadian imports.

Chrystia Freeland, the former finance minister who is running to replace Justin Trudeau as Canada's prime minister, says her country needs to release a “retaliation list” of goods the country would ta

Today, reporter Robert Tuttle looks at the close integration of US-Canadian oil markets and what that means for Donald Trump’s tariff plans. Among US President Donald Trump’s flurry of threats during his first week in office was a vow to impose 25% tariffs on imports from Canada.