Trump’s 50% Auto Tariffs Escalate Canada Trade War, Bitcoin Holds as Macro Hedge

The US-Canada trade war took a sharp turn on August 24, 2026. President Donald Trump threatened to double tariffs on all Canadian vehicles, auto parts, and steel to 50%, effective January 1, 2027. The move came just two days after talks collapsed and Washington imposed fresh 50% levies on roughly $20 billion in Canadian goods.