President Trump announced on August 24 that tariffs on all cars, trucks, automotive parts, and steel imported from Canada will jump to 50%, effective January 1, 2027. This measure doubles the existing 25% tariff in place since April 2025 and places the bulk of the impact on Toyota and Honda, which together account for over 75% of vehicle production in Canada. Prime Minister Mark Carney has already pledged retaliatory tariffs starting September 8, 2026. Analysts warn that these tariffs could add thousands of dollars to popular models like the Honda CR-V and Toyota RAV4, both of which are produced in Canada.
Source: Read the original article
