S&P 5007,785.76▼0.2% Nasdaq26,729.16▼0.3% Dow53,732.41▼0.2% Russell 2K3,068.42▲0.5% 10-Yr4.70%+6bp VIX14.25−0.38 WTI$82.40▲1.4% Gold$4,432.00▲1.6% EUR/USD1.157▲0.4% BTC$79,491▲0.7% Nikkei68,309▲1.2%
At close · Fri, Aug 14, 2026
Daily Market Updates.

Global Markets

Home›Global Markets›Trade & Tariffs›Trump invokes long-dormant law for Canada tariffs amid…

Trump invokes long-dormant law for Canada tariffs amid legal doubts

Reported · Written up by our desk · Trade & Tariffs

The New York Times reports that President Trump is relying on a long dormant provision of federal law to impose tariffs on Canada, an approach that has raised concerns in courts in past cases.

The outlet says the move targets one of the United States’ closest allies, but the legal theory behind the tariffs has been troubled historically, according to the reporting.

← Newer storyIran says it is ready for renewed US sanctions as trade ties persist

More like this

Global MarketsCanada announces retaliatory tariffs on about $20B of U.S. goods
Global MarketsIran says it is ready for renewed US sanctions as trade ties persist
Global MarketsSanctions trigger petrol queues in Tehran amid US push to cut Iran’s lifelines
Global MarketsChina launches first South America archaeology project to study ancient links
Global MarketsUS concedes it lost China race for critical minerals, Brazil says

Sources

NYT BusinessTrump’s Canada Tariffs Rely on Untested Law

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.