The Trump administration’s tariffs on US imports and Canada’s retaliatory actions have major implications for Canadian companies and their commercial transactions. Counsel should understand the resulting contract issues and the potential use of contract clauses or other avenues that may provide relief for affected companies.

Prime Minister Mark Carney, who will make his first visit to Washington since his election, said President Trump’s call to annex Canada as the 51st state would not be on the table.

Mark Carney’s Liberal Party is projected to win a federal election that played out against a backdrop of Trump’s trade war and annexation threats.