Section 338 tariffs paused for 72 hours as Canada-U.S. negotiate

U.S. tariffs on hundreds of Canadian products that were scheduled to take effect today have been “paused” for the next 72 hours as both sides try to negotiate a lasting trade agreement between the two countries. The tariffs were proposed under Section 338 of the Tariff Act of 1930 and cover roughly $20 billion worth of Canadian imports.

While Saskatoon remains among the least tariff-exposed cities in Canada, and over 90% of our goods are tariff exempt, a drawn-out process does carry an economic cost. We know that hiring decisions, expansion plans and capital investments (equipment, tech) are all affected when uncertainty is in the air.

There are Chamber members who are feeling the impact of existing tariffs on their goods. Members dealing in steel, aluminum, lumber and furniture continue facing U.S. tariffs of 25 to 50% as they work to support their U.S. customers. Some retaliatory Canadian tariffs are making the cost of inputs from U.S. suppliers more expensive and are eating into margins.

While weaker than this time last year, Saskatoon's business confidence remains above the national average — and our business community remains bullish on the future given the record levels of private investment coming into the province.