Market Chatter: Trump Administration Weighs More Tariffs on Canada, Official Says

08:00 PM EDT, 08/25/2026 (MT Newswires) -- The Trump administration is discussing additional trade penalties against Canada after Prime Minister Mark Carney unveiled dollar-for-dollar retaliation to new US tariffs imposed Saturday, Bloomberg reported Tuesday, citing a White House official. The official, who spoke on condition of anonymity to discuss internal deliberations, said additional escalation could include higher tariffs and other trade actions, and that an administration response to Canada's latest moves was expected, according to the report. President Donald Trump has an array of tools available to deploy in the dispute, the official said, Bloomberg reported. The White House did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)