Trump Tariffs Hit Canada at 50% Under a Law Never Used Before, and 60 Countries Are Next

• Trump tariffs on Canadian imports will rise to 50% under Section 338 of the Tariff Act of 1930, marking what reports describe as the law’s first known use
• The White House is also preparing 10% to 12.5% tariffs on roughly 60 countries, replacing the temporary global tariff set to expire this week
• The latest escalation in the Trump trade war has renewed discussion around Bitcoin and stablecoins as a dollar alternative, though there is no evidence the tariffs directly caused recent crypto gains

President Donald Trump has once again put tariffs at the center of US trade policy, but this week’s moves go well beyond another round of import taxes. Trump’s latest tariffs target Canada through a legal provision that has reportedly never been used before. Meanwhile, officials prepare fresh duties on dozens of other countries. These announcements signal a notable escalation that could reshape global trade and, once again, put crypto markets back into the conversation.

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Trump Expands Trade War With Canada Tariffs and Global Duties

The White House announced 50% tariffs on a wide range of Canadian imports under Section 338 of the Tariff Act of 1930. This is a law designed to address discriminatory trade practices. According to reports, this is the first known time the provision has been invoked. The duties are scheduled to take effect in 30 days. It will apply to products ranging from wine and cement to hockey sticks and dairy. Meanwhile, key exports such as energy, potash and critical minerals remain exempt from Canada-related tariffs for 2026.

The announcement marks another escalation in the Trump trade war. Canadian Prime Minister Mark Carney said Ottawa would “intensify” negotiations with Washington. They argued the latest measures violate the spirit of the USMCA trade agreement. Ontario Premier Doug Ford also called for Canada to respond “tariff for tariff, dollar for dollar.” 

Canada is only part of the story. The Financial Times reported that the Trump administration is preparing 10% to 12.5% tariffs on roughly 60 countries before the current temporary global tariff expires later this week. Unlike previous tariffs that relied on emergency powers later struck down by the US Supreme Court, the administration is now turning to other trade laws. This includes investigations under Section 301 of the Trade Act of 1974 to support new duties.

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Why Trade Tensions Keep Reviving the Crypto Narrative

US’s latest tariff push has also revived discussion around crypto and whether periods of trade uncertainty strengthen interest in digital assets. Bitcoin climbed above $66,000, its highest level in more than a month. Meanwhile, the overall crypto market has added more than $240 billion in market value over the past three weeks.

There is no evidence that Tuesday’s announcements directly triggered the rally. Still, recurring trade disputes often renew the case for Bitcoin and stablecoins as a dollar alternative. This is particularly among investors looking to diversify during periods of geopolitical and economic uncertainty. As Washington widens its trade agenda, that narrative is likely to remain part of the conversation. This is as the US dollar continues to dominate global reserves and international payments.

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