President Donald Trump, in his first Oval Office meeting with new Canadian Prime Minister Mark Carney, said there was nothing Carney could say to him Tuesday that would convince the president to reduce tariffs on Canadian goods.

This week marked an important milestone in the state of trade between the United States and Canada. Since February, the United States and Canada have entered into a series of trade measures and countermeasures,

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.