Treasury
3-MO 3.87% +1bp 6-MO 4.02% +2bp 1-YR 4.08% +5bp 2-YR 4.26% +5bp 3-YR 4.31% +6bp 5-YR 4.37% +4bp 7-YR 4.50% +5bp 10-YR 4.63% +3bp 20-YR 5.14% +2bp 30-YR 5.13% +2bp 3-MO 3.87% +1bp 6-MO 4.02% +2bp 1-YR 4.08% +5bp 2-YR 4.26% +5bp 3-YR 4.31% +6bp 5-YR 4.37% +4bp 7-YR 4.50% +5bp 10-YR 4.63% +3bp 20-YR 5.14% +2bp 30-YR 5.13% +2bp 3-MO 3.87% +1bp 6-MO 4.02% +2bp 1-YR 4.08% +5bp 2-YR 4.26% +5bp 3-YR 4.31% +6bp 5-YR 4.37% +4bp 7-YR 4.50% +5bp 10-YR 4.63% +3bp 20-YR 5.14% +2bp 30-YR 5.13% +2bp 3-MO 3.87% +1bp 6-MO 4.02% +2bp 1-YR 4.08% +5bp 2-YR 4.26% +5bp 3-YR 4.31% +6bp 5-YR 4.37% +4bp 7-YR 4.50% +5bp 10-YR 4.63% +3bp 20-YR 5.14% +2bp 30-YR 5.13% +2bp 3-MO 3.87% +1bp 6-MO 4.02% +2bp 1-YR 4.08% +5bp 2-YR 4.26% +5bp 3-YR 4.31% +6bp 5-YR 4.37% +4bp 7-YR 4.50% +5bp 10-YR 4.63% +3bp 20-YR 5.14% +2bp 30-YR 5.13% +2bp 3-MO 3.87% +1bp 6-MO 4.02% +2bp 1-YR 4.08% +5bp 2-YR 4.26% +5bp 3-YR 4.31% +6bp 5-YR 4.37% +4bp 7-YR 4.50% +5bp 10-YR 4.63% +3bp 20-YR 5.14% +2bp 30-YR 5.13% +2bp
US Treasury par yield curve · Jul 21 · Source: U.S. Treasury
Tuesday, July 21, 2026
U.S. Edition
Economics

Trump signs three proclamations imposing 50 percent tariffs on some Canadian goods

A photograph illustrating corrugated container steel texture.
Photo: Jan van der Wolf / Pexels

President Trump signed three proclamations on July 20 that place an additional 50 percent tariff on certain goods of Canada. The authority is unusual. The proclamations invoke Section 338 of the Tariff Act of 1930, a Depression-era provision that lets the president raise duties on a country the administration finds to be discriminating against United States commerce, and it has sat almost entirely unused for close to a century.

Each of the three proclamations covers a different set of Canadian imports. The White House named products ranging from wine to hockey sticks to cement, and framed the action as a response to Canada's treatment of American cars, alcohol and dairy. According to the White House, Canadian imports of United States motor vehicles fell about 22 percent, or $5.6 billion, from April 2025 through March 2026, measured against the same period a year earlier.

Two features decide the reach. The tariffs apply to covered goods regardless of whether they originate under the United States-Mexico-Canada Agreement, so the trade deal does not shield them. And several categories are carved out: energy, potash, fish, critical minerals, and goods already subject to tariffs under Section 232, which is excluded so the new duty does not stack on top of an existing one.

The measure takes effect 30 days after signing. That timing gives importers a short window before the duty attaches at entry.