Trump's 50% Tariff On Canada: Trade Escalation Under Section 338

President Trump imposed a new 50% tariff on select Canadian goods, citing discrimination against US products. Markets reacted mildly, as tariffs are now largely priced in and overshadowed by concerns like AI CapEx and Middle East tensions. The new tariffs target cars, alcohol, and dairy, but investors are not overly concerned about their long-term impact. US-Canada relations have deteriorated, raising future risks for energy and mineral trade dependencies.