12:55:45 EST Mon 02 Mar 2026
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Close 2026-02-27 C$ 12.00
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Post says Toyota sees Trump's mad-king power restrained

2026-03-02 07:28 ET - In the News

See In the News (C-TOYM) Toyota CDR (CAD Hedged)

The National Post reports in its Monday edition that on Feb. 20, the U.S. Supreme Court halted President Donald Trump's year-long tariff imposition under the International Emergency Economic Powers Act, much to his dismay and importers' relief. The Post's Tracy Moran writes that Mr. Trump said he was "ashamed" of the court, and imposed a 10-per-cent global tariff under Section 122 of the Trade Act of 1974, which allows tariffs to address significant balance-of-payments deficits for up to 150 days. The new tariff mirrors IEEPA's exemptions, which means that Canada-U.S.-Mexico Agreement compliant goods escape the new duties. The Section 122 tariffs can be challenged in court. The White House cites balance-of-payments issues globally, which some trade watchers believe may be overreaching. Having been exempt from most of Mr. Trump's tariffs over the past year, Ottawa knew it needed the IEEPA tariff threat to vanish ahead of the CUSMA review talks. If the trade agreement between the three countries were ever to be abandoned, the risk of facing the IEEPA-level tariffs would have been economically destructive. Now, thanks to the high court justices, Mr. Trump cannot lob a tariff at Canada with the stroke of a pen.

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