According to Axios, President Trump announced an additional 50% tariff on select Canadian imports under Section 338 of the Tariff Act of 1930, better known as the Smoot-Hawley Tariff Act, with the levy set to take effect in August. The administration said the move responds to alleged discrimination against U.S. exports and Canada's retaliation against earlier U.S. tariffs, and it would affect about $20 billion in Canadian goods. The White House also said the tariffs are narrow and targeted, while Canada faces another setback after the administration declined to immediately renew the current protections and framework of the U.S.-Mexico-Canada Agreement.