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What do tariffs on Canadian goods have to do with me?

The effects of possible price increases due to tariffs on Canadian goods might hit you harder than you think.

3/4/25 6:52PM

As of today, the United States has placed a 25% tariff on everything we import from Canada and Mexico, as well as a 20% tariff on most Chinese goods. Canada has responded with retaliatory tariffs on over $100 billion worth of American goods entering Canada.

Canada is the US’s second-biggest trading partner. The US exported $349 billion to Canada in 2024, about 17% of all US exports. The US imported $413 billion worth of goods from Canada in 2024.

Let’s take a look at all of the things you might encounter during a typical day that are likely to have been imported from Canada. They’re about to get more expensive.

You sit down at your kitchen table with a cup of coffee and your morning newspaper and start reading about these new, steep tariffs. The paper in your hands was almost certainly printed on Canadian newsprint.

🗞️ 99% of the newsprint imported to the US comes from Canada.

You pour some sweet maple syrup on top of your pancakes. Don't use too much!

🍁 Almost 100% of imported maple syrup comes from our northern neighbors with the maple leaf on their flag.

What’s that delicious smell? Mmmm… bacon. Canadian bacon, actually.

🥓 98% of the “Bellies (streaky) and cuts thereof of swine, salted, in brine, dried or smoked” that we import comes from Canada.

Off to work. You jump into your car, a 2024 Ford Edge. Your car probably crossed the US/Canadian border several times during its manufacturing process. NAFTA led carmakers to spread their supply chains across North America.

🚗 It turns out that 28% of your car was manufactured in the US and Canada, and it was assembled in Canada.

Argh! The gas light is on. You better shop around for low gas prices.

🛢️Canada is the largest source of imported petroleum to the US, totaling $96.5 billion in 2024.

You settle in to work after arriving at your office. You haven’t even answered your emails when your phone rings with bad news. It’s the contractor you hired to do the extension on your house. Turns out that most of the lumber your contractor will use comes from Canada, and the estimate for the job just went up 25%. Great.

🪵 In 2024, 72% of construction lumber came from the Great White North.

All of these price increases are stressing you out. After work, you meet up with a friend for some dinner at your favorite pub. You order a burger, fries, and a cold beer. You do a double take at the prices, which are 25% higher than your last visit. Then you realize that Canada is the largest source of beef imports to the US.

🥩 Last year, the US imported $2.5 billion worth of fresh or chilled beef from Canada, making up 42% of overall imports.

As you bite into a crisp french fry, you ponder the spud’s origin. Yep, Canada again.

🥔 86% of the volume of imported frozen french fries to the US comes from Canada.

You start to crush the empty beer can in your hand in frustration, staring at the twisted metal… which reminds you that the US imported $11.3 billion worth of Canadian aluminum last year.

🍺 41% of imported aluminum came from Canada in 2024.

Then you start to wonder: what do we import from Mexico?

Source: United States International Trade Commission; Trade.gov.

Tom Jones

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The Trump administration is reportedly planning a 50% made-in-America requirement for USMCA tariff relief

Qualifying for USMCA-related lower tariffs may soon require more US-made vehicle components, according to reporting by The Wall Street Journal.

The Trump administration is reportedly planning to introduce a 50% US content requirement for vehicles covered by the trade pact to receive lower tariffs. The content would be measured by cost, according to the WSJ.

There currently isn’t any US-specific requirement for those lower tariff rates, but in order to receive preferential tariffs, vehicles are must contain at least 75% regional content (components made in North America). Per Reuters reporting, the Trump admin is seeking to raise the regional requirement to 82%.

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

Overall, Tesla will likely have the easiest time qualifying for any stricter requirements. The automaker’s vehicles contained the highest amount of US/Canadian content in 2025, according to American University research. Ford, GM, and Stellantis all scored lower.

Notably: the underlying government data that many domestic content measurements rely on intentionally combines US and Canadian components, so it’s difficult to know exactly how much of any given vehicle is specifically US-made.

Exclusive | Trump Administration Wants Autos Under USMCA to Be at Least 50% Made in America

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

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The $640,000 Luce makes the average Ferrari look like a bargain

Put aside the shape; put aside the smoothing out of Ferrari’s iconic sharp edges; put aside, even, the calls from former Chairman and President Luca Cordero di Montezemolo to “take the Prancing Horse off.” On the grounds of price alone, Luce detractors might have a point.

By now, many of us will have read the criticisms of Ferrari’s first fully electric vehicle, as the Luce — which was unveiled to the world earlier this week and promptly saw the company’s shares crash out in New York and Milan — gets subtly shaded by competitors online and not-so-subtly shaded by basically everyone else.

What makes all of this worse for Ferrari is that, even by the luxury car maker’s notoriously high standards, they’ve slapped a pretty hefty price tag on the Luce, and the company’s CEO, Benedetto Vigna, has already been forced to defend the €550,000 ($640,000) price point, saying yesterday that it’s “fair to pay for innovation,” per Reuters.

While Ferrari’s cars have been getting more expensive of late, as recently as 2022, Ferrari’s average revenue per car sold was around $340,000. At nearly twice that price, this new electric model is obviously proving a little much (visually, conceptually, and financially) for many loyal and long-standing fans of the Prancing Horse to stomach.

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