US to Remove 50% Tariffs on Select Canadian Agricultural Goods, Offsetting Other Duties

The United States is preparing to lift 50% tariffs on nine categories of Canadian agricultural and forestry products, following lobbying by Maine Senator Susan Collins. Relief covers goods including blueberries, potatoes, apples, and seaweed to ease pressure on border states ahead of midterm elections. However, the reductions will be offset by higher levies on other Canadian imports, keeping the total value of affected trade steady at approximately $20 billion, or roughly 5% of Canada's exports to the US. Following the reports, USD/CAD traded down 18 pips to 1.3990, remaining largely unmoved.