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Keldura Daily · Markets & Economy

Canada Activates Sweeping Counter-Tariffs on US Goods

Canada’s retaliatory tariffs took effect Tuesday, covering nearly C$28bn ($20bn) of US products and reaching rates as high as 50%.[5] The measures target goods ranging from steel and furniture to clothing, although Canada removed fresh fish, lobster and dozens of other seafood products following industry pushback.[5] The IMF published its 2026 Article IV consultation and third review under the Extended Credit Facility for the Democratic Republic of the Congo, alongside a debt sustainability analysis and a second review under the Resilience and Sustainability Facility.[3] The report also covers requested waivers for missed performance criteria, modifications to those criteria, financing assurances and a request to rephase access.[3]

The field note

2 sources · 2 items
  1. The United States already applies a 25% tariff to Canadian cars and trucks, taxes Canadian steel, aluminium and…
  2. Canada’s latest measures are in addition to retaliatory taxes on finished US vehicles that do not comply with t…
  3. Canada’s GDP grew 3.3% in the second quarter and employment increased by 181,000 from April through July, but t…
Story 011 source

Canada Activates Sweeping Counter-Tariffs on US Goods

Canada’s retaliatory tariffs took effect Tuesday, covering nearly C$28bn ($20bn) of US products and reaching rates as high as 50%.[5] The measures target goods ranging from steel and furniture to clothing, although Canada removed fresh fish, lobster and dozens of other seafood products following industry pushback.[5]

Why it matters

Economists warn that the counter-tariffs will raise Canadian consumer prices for everyday goods, while businesses are preparing for a prolonged dispute with the country’s largest trading partner.[5]

Key insights

  • The United States already applies a 25% tariff to Canadian cars and trucks, taxes Canadian steel, aluminium and lumber, and introduced 50% tariffs on additional goods in late August.[5]
  • Canada’s latest measures are in addition to retaliatory taxes on finished US vehicles that do not comply with the Canada-US-Mexico free-trade agreement.[5]
  • Canada’s GDP grew 3.3% in the second quarter and employment increased by 181,000 from April through July, but the economy lost about 41,000 jobs in August as US tariffs took effect and trade talks collapsed.[5]
  • The share of Canadian exports going to the United States fell to 66% in July from an average of 75% before the trade war.[5]
Story 021 source

IMF Review Flags Compounding Risks in the Democratic Republic of the Congo

The IMF published its 2026 Article IV consultation and third review under the Extended Credit Facility for the Democratic Republic of the Congo, alongside a debt sustainability analysis and a second review under the Resilience and Sustainability Facility.[3] The report also covers requested waivers for missed performance criteria, modifications to those criteria, financing assurances and a request to rephase access.[3]

Why it matters

The IMF says volatile security conditions in Eastern DRC, substantial humanitarian pressures, the Middle East war and a recent Ebola outbreak are complicating public policy, while political risks are rising around possible changes or delays affecting the 2028 presidential election.[3]

Key insights

  • The security situation in Eastern DRC remains highly volatile and is producing significant humanitarian pressures.[3]
  • A newly formed opposition coalition opposes any presidential term extension through constitutional change or a security-related delay to the 2028 election.[3]
  • The IMF country report spans 238 pages and addresses expenditure, external debt, public debt and revenue administration.[3]

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