Canada: Draft international tax measures has been released

Canada’s Minister of Finance and National Revenue announced a provisional safeguard measure, in the form of a 25% surtax, on imports of certain wood cabinets and vanities, on 31 July 2026, while the Canadian International Trade Tribunal safeguard

The Department of Finance Canada has launched a consultation on draft amendments to the Global Minimum Tax Act that would update the definition of a "deduction/non-inclusion arrangement" under subsection 47(1). The Department of Finance Canada

President Donald Trump said on Tuesday, 28 July 2026, that he has no interest in revising the six-year-old US-Mexico-Canada Agreement (USMCA), stating that the trade deal matters far more to Mexico and Canada than to the US. The position comes as

US President Donald Trump renewed his threat to impose tariffs on Canada in response to wildfire smoke drifting across the border on 24 July 2026, telling reporters: "We're going to put a big tariff on Canada because of the smoke." The statement

Canada's Department of Finance has released draft legislative proposals for public consultation on 23 July 2026 to implement a range of previously announced tax measures, along with other technical amendments to the country's tax

Canada’s Prime Minister Mark Carney told provincial premiers on 23 July 2026 that Canada would retaliate against new US tariffs if negotiations fail. The announcement came days after US President Donald Trump imposed 50% duties on Canadian