The United States announced the removal of tariffs on certain Canadian goods after President Donald Trump modified the existing tariff list. The changes eliminate duties on plywood, selected paper products, and machinery, while introducing new tariffs on carpets and certain valves. The measures take effect on October 30 and do not fully resolve the trade dispute between the two countries. Their impact on inflation and trade flows could affect the Bank of Canada’s next rate decision, with markets assigning a 79% probability to a 25-basis-point increase.
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