Trump raises “global tariff” to 15%: what it means for Canada
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U.S. President Donald Trump said on Saturday, February 21, 2026, that he will raise a temporary worldwide import tariff to 15% from 10%, after the U.S. Supreme Court struck down a previous tariff program that relied on emergency economic powers. Trump said the administration will pivot to Section 122 of the 1974 Trade Act, which allows a temporary import surcharge up to 15% for up to 150 days unless Congress approves an extension.
A White House proclamation tied to the Section 122 surcharge (initially set at 10%) sets an effective start date of February 24, 2026, running through July 24, 2026, and lists exemptions. Those exemptions include goods entered duty free as products of Canada or Mexico under USMCA, and the surcharge is not applied on top of Section 232 national security tariffs (with specific mechanics where 232 applies to only part of an import).
Direct impact on Canada is likely limited for most exports if USMCA compliant goods remain exempt, as reported by Canadian coverage citing a White House fact sheet. The bigger exposure is for shipments that are not USMCA compliant, or where origin documentation and preference claims are not properly made, alongside sectors already facing separate product specific tariffs.
A key takeaway for exporters: Canada’s tariff advantage hinges on compliance and proof. RBC estimates 89% of Canadian exports to the U.S. in December were not charged tariffs because they were compliant with USMCA rules of origin, while product specific measures such as Section 232 have been a larger driver of duties on Canadian exports.
Practical step for Canadian businesses: confirms USMCA origin eligibility, issue the required certification of origin, ensure the U.S. importer claims preferential treatment, and keep records for verification.
