Market Chatter: Trump Expected to Remove 50% Tariffs on Some Canadian Goods to Help GOP in Midterms

02:06 PM EDT, 10/23/2026 (MT Newswires) -- President Donald Trump is expected to remove 50% tariffs on some Canadian imports in an attempt to help Maine Sen. Susan Collins and other Republicans on ballots in the upcoming midterm elections, The Wall Street Journal reported Friday, citing people familiar with the action. The announcement on the tariff rollback could come as soon as Friday and will likely impact certain agricultural and forestry products, the report said, citing the people. The reductions could be balanced by increasing tariffs on other Canadian goods, the report said. The White House didn't immediately reply 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.)