A Bank of Canada survey of approximately 340 business leaders in September 2026 found that Canadian business sentiment deteriorated after trade talks with the U.S. broke down on August 21, 2026.

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U.S. Secretary of State Marco Rubio stated that the United States and India are very close to finalizing a bilateral trade deal, with only a small number of items left to resolve

U.S. Secretary of State Marco Rubio stated that U.S. tariff waivers on Russian oil purchases were linked to progress in finalizing a U.S.-India trade deal

India and the United States reached an interim trade agreement in February 2026 to reduce tariffs, but progress paused after the U.S. Supreme Court struck down U.S. President Donald Trump's tariffs

Indian Finance Minister Nirmala Sitharaman stated in October 2026 that trade negotiations with the United States had reached a plateau beyond which giving or taking would be very difficult

U.S. President Donald Trump signed an executive order on October 16, 2026, waiving sweeping sanctions and tariffs on Russia that were set to take effect on October 18, 2026.

The Lindsey O. Graham Act would have imposed tariffs of up to 100 percent on imports from the five largest buyers of Russian crude oil or gas.

The US business delegation's October 19, 2026 meetings in Samarkand yielded 54 business agreements worth $12 billion across sectors including transport, energy, finance, and digital technologies.

Bank of Canada surveys released on October 19, 2026, showed rising inflation expectations driven by trade tensions, input costs, tariffs, and Middle East conflict pressures on energy.

Approximately half of Canadian firms surveyed by the Bank of Canada plan to pass on cost increases from the Iran war and trade tariffs to customers over the next 12 months.

Elevated U.S. tariffs pushed Chinese exporters to direct more goods toward Southeast Asia, Latin America, and Europe in 2026.

China introduced a zero-tariff scheme for qualifying African imports in May 2026, allowing South Africa to export agricultural goods such as apples and wine on a duty-free basis.

South African President Cyril Ramaphosa stated that exclusion from AGOA would have a devastating impact on domestic employment, prompting global visits to explore alternative export markets.

South African President Cyril Ramaphosa stated on October 19, 2026 that South Africa must prepare for potential exclusion from the United States' duty-free trade initiative, AGOA.

The United States African Growth and Opportunity Act (AGOA) provides duty-free market access to eligible sub-Saharan African nations and has been renewed through the end of 2028.

U.S. President Donald Trump signed an executive order waiving key sanctions and tariffs on Russian goods and energy purchases scheduled under the Graham Act.

Countries should impose carbon tariffs on imports from countries with weaker emissions rules

President Donald Trump temporarily paused tariffs and sanctions under the Lindsey O. Graham Act in October 2026, allowing a 60-day period to analyze economic impacts on allies like India.

Special Bank of Canada consultations in July and August 2026 found Canadian firms adapting to trade tensions by modifying supply chains, increasing technology spending, and diversifying export markets.

The Bank of Canada reported that despite post-talk deterioration, business sentiment and expectations remained considerably stronger than during the peak of trade tensions in 2025.

The collapse of Canada-U.S. trade negotiations on August 21, 2026, was followed by a 50% U.S. tariff on approximately $28 billion of Canadian goods and planned Canadian retaliatory counter-tariffs.