- General Motors, Ford, and Stellantis stocks fell 3% after President Donald Trump threatened 50% tariffs on Canadian vehicles, parts, and steel starting on Jan. 1, 2027.
- The trade tensions escalated after U.S. and Canada trade talks collapsed on Aug. 21, prompting the U.S. to impose 50% tariffs on $20 billion worth of Canadian goods.
- Canada announced plans to retaliate with tariffs on U.S. goods starting Sept. 8, while economists warn the trade war could further slow Canadian economic growth.
