Markets 
It’s a last call on Crown Royal.
President Trump has upped the ante on the ongoing tariff saga, this time issuing a full ban on certain Canadian products. The president signed several proclamations restricting most alcohol coming in from the neighboring country.
This means Americans will no longer sip on the following Canadian favorites: malt beer, sparkling wine, vermouth and cider. Additionally, some spirits like bourbon, rum, gin, vodka and tequila are also outlawed.
Crown Royal — the high-end, Canadian whiskey — is also on the banned list.
In a press release, the White House described the move as necessary to “better serve the public interest.” The ban will take effect on September 29, so products sitting on store shelves will likely still be there until all are sold.
But the new rules don’t stop at alcohol — Trump also added bans on nonalcoholic beer, whey protein concentrates, molasses, certain dairy-related products and larger-capacity motorcycles.
In addition to the ban, the president added another set of 50% tariffs on iron or steel pillars, posts, beams, girders, aluminum bars, rods, tubes, and pipes. Mattresses, electric lamps, motorboats and even golf carts made it on the list.
The administration issued the sweeping levies following Prime Minister Mark Carney’s retaliatory tariffs that went into effect yesterday. Canada’s counter-tariffs were announced two weeks ago after the trade war with the US reached a standstill.
Carney said the tariffs will range between 15%, 25% and 50%, with the rate for each product matching the US dollar-for-dollar.
Items facing 50% tariffs will include products like American milk, perfume, golf clubs, steel, aluminum, jackets and T-shirts.
Products subject to 25% tariffs are cheese, carpets, certain household appliances like stoves and air conditioners, while forklifts and some industrial molds will face 15% tariffs.
This new move by Trump means the US has essentially put retaliatory tariffs on top of Canada’s retaliatory tariffs.
If you’re having trouble keeping up — that’s because it’s confusing.
Canada’s tariffs were added after the US put levies on items like Canadian milk, hockey sticks, alcohol, plywood and other goods. And just last month, negotiations collapsed, further intensifying the 18-month-old trade war.
Days before the tariffs were announced, the Prime Minister said Canada was “at war” with the US.
“We were attacked. You’re at war when you get attacked. We got attacked,” Carney told reporters on August 22. “That’s fine. We’ve got the reserves. We’ve got the resilience. We’ve got the plan. We’ve got the focus. We will respond.”
Trump took to Truth Social yesterday, blasting the once-friendly neighbor and claiming it “has been ripping us off for years.” The president urged Canada to restore “full and fair reciprocity for American Farmers and Companies.”
Until then, Americans might want to try a Kentucky classic — Woodford Reserve.
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