President Donald Trump’s July 2026 imposition of 50% Section 338 tariffs on select Canadian goods, followed by scope modifications in September and October, continues to shape trader assessments of any announced tariff decrease. The October 23 proclamation removed 22 product categories—including certain plywood, paper goods, refrigeration equipment, and packing materials—while adding roughly 100 others such as carpets, cocoa powder, and appliances, effective October 30. These adjustments occurred amid stalled trade negotiations after Canada’s retaliatory measures and amid renewed bilateral talks. Prime Minister Mark Carney and President Trump are scheduled to engage at the November APEC summit, where autos and broader market access remain focal points. Any formal reduction in duties would require a presidential proclamation or executive action altering the existing Section 338 framework.