In February 2025, President Trump declared a national emergency to justify placing extra tariffs (taxes on imported goods) on products coming from Canada — an additional 25% on most Canadian goods, and an additional 10% on Canadian energy products like oil and gas. This resolution would cancel that emergency declaration, which would in turn end those extra tariffs. If passed, businesses and consumers who buy Canadian imports would no longer pay the added tax on those goods, effectively reversing the price increase the tariffs had created.