In a significant escalation of trade tensions, President Trump has implemented a 35% tariff on Canadian imports, effective immediately, following stalled negotiations between the U.S. and Canada. This decision comes as the administration sets new tariff rates for 92 countries, signaling a broader strategy to leverage tariffs in trade discussions. Despite a deadline approaching for potential deals, Canada has expressed disappointment at the unilateral move, which it views as punishment amid ongoing trade dialogues. Meanwhile, Trump has granted a reprieve to Mexico with a 90-day extension for negotiations. The implications of these tariffs are being closely watched by various sectors, with Canadian producers and policymakers bracing for potential challenges in the face of heightened trade barriers and uncertainty.