The Decibel Winners and losers after a year of Trump tariffs
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Feb 26, 2026 Jason Kirby, a Globe and Mail economics reporter who tracks tariffs and trade policy, joins to unpack recent U.S. tariff rulings. He discusses the Supreme Court decision, which Canadian exports were hit hardest, and which sectors gained or lost over the past year. The conversation covers legal limits on tariffs and what types of new trade actions might be coming next.
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Global Tariff Swap Shrunk Canada's Rate Temporarily
- Trump replaced higher IEPA rates with a new 10% global tariff, briefly threatening 15%, creating rapid policy swings.
- Jason Kirby notes this dropped Canada's affected tariff slice from 35% to 10% but signalled erratic shifts day-to-day.
Section 122 Has A 150 Day Sunset
- Section 122 tariffs are time-limited emergency tools that require congressional approval after 150 days.
- Kirby explains Trump used faster IEPA moves to raise roughly $130–$140 billion before the court struck them down.
Section 232 Is A Preferred Permanent Option
- Section 232 remains legally sound and targets specific industries via national security investigations.
- Kirby warns ongoing probes could hit aircraft, pharmaceuticals, robotics and other Canadian exports if framed as security threats.