US-Canada Trade Dispute & EU CBAM Guidance

August 28, 2026 | Market Trends for the NQC Community 

US implements 50% tariffs on Canadian imports following trade negotiation failure

Following the breakdown of bilateral trade negotiations, the US administration implemented a 50% tariff on hundreds of Canadian imports on 22 August 2026.

The new duties target a broad range of manufactured goods, including furniture, plastics, plywood, and electrical equipment. Unlike previous trade measures that exempted products meeting US-Mexico-Canada Agreement (USMCA) rules, these tariffs rely on Section 338 of the Tariff Act of 1930. This Depression-era law allows the US President to unilaterally levy up to 50% duties on imports from countries deemed to treat US commerce unfairly, bypassing standard free-trade deal exemptions.

In response, Prime Minister Mark Carney announced that Ottawa will implement a dollar-for-dollar counter-package designed to match the US levies directly. Taking effect on 8 September 2026, the Canadian measures will match the 50% rate across roughly C$28 billion (US$20 billion) of American imports. The list of targeted products is designed to mirror impacted Canadian goods, spanning over 700 sectors, ranging from steel, aluminium, and industrial equipment to fresh tuna, electronics, furniture, and cotton T-shirts.

Canada exported $454 billion in goods and services to the US last year, representing the majority of its total export volume, while importing $426 billion in American products. 

European Commission issues CBAM guidance for verifiers and accreditation bodies

On 24 August 2026, the European Commission published dedicated guidance on verification and accreditation for verifiers and National Accreditation Bodies (NABs) under the Carbon Border Adjustment Mechanism (CBAM).

The documentation clarifies regulatory obligations for independent verifiers auditing emissions data from non-EU manufacturing installations ahead of CBAM's definitive period rules. It also sets out surveillance and accreditation standards for NABs overseeing those verifiers.

In parallel, the Commission outlined a two-step procedure for verifiers seeking access to the official CBAM Registry, which opens on 1 September 2026:

1. 1. National accreditation: Verifiers must first obtain formal accreditation from their relevant National Accreditation Body (NAB).

   2. Registry application: Accredited entities then apply to their National Competent Authority (NCA). Following verification checks, the NCA grants system access permissions to the registry.
      

The release completes the operational framework needed for third-party verifiers to sign off on carbon emissions reports for imported goods starting in 2026.