Sectors targeted include steel and aluminium, dairy, appliances, agricultural equipment, pulp and paper, plastics, cosmetics, clothing, and electronics – industries that form a substantial portion of the business-owner and equity client base for wealth managers working across Canada.
What is on the counter-tariff list
The 50 per cent band covers steel, aluminium, concentrated dairy products, plastics, paper and pulp products, cosmetics, smartphones, clothing, and certain sporting goods.
The 25 per cent band captures cheese, major household appliances including refrigerators and washing machines, softwood lumber, and certain steel and aluminium derivative products. A smaller set of items falls under the 15 per cent tier.
As Wealth Professional has reported throughout the escalating Canada-US trade war, industries linked closely to US supply chains – autos, steel, aluminium, lumber – carry the heaviest exposure for advisers with business-owner clients and sector-concentrated portfolios. The new list adds appliances, electronics, and consumer goods to that picture.
Edward Jones Canada, in a published market commentary on the tariff escalation, assessed the new measures as “a meaningful but manageable headwind for the Canadian economy,” while noting that effects will be felt unevenly across provinces and sectors.