The Supreme Court of the United States has ruled today 6 to 3 against President Trump’s IEEPA Tariffs. Such a decision could result in the USA having to pay back over $250B in collected revenue.
Sadly, this means very little for Canada. While it invalidates some fentanyl-related duties on non-USMCA-compliant goods (a minor relief for many exporters), the ruling explicitly does not affect many other U.S. tariffs on Canadian goods, which were imposed under different legal authorities. These include sectoral tariffs on automobiles, lumber, and other industries, which were issued under separate trade laws or authorities, not IEEPA. Steel and aluminum tariffs on Canada were issued under Section 232 of the Trade Expansion Act of 1962, for national security reasons, and doubled to 50 percent in June 2025.
While Canadian media will surely celebrate this ruling as a historic defeat, the need for a new trade deal between Canada and the USA remains. The fact that the USA buys almost 80% of Canadian exports is the ultimate reality that Canada must focus on protecting.
As we have always maintained, the Canadian economy would gain significant stability from a robust trade agreement with the United States, provided the government can overcome its ineffective negotiation efforts and missteps. Unfortunately, such a critical deal remains in limbo and uncertainty in the economy persists. Further, a seemingly forgotten obstacle in the media is that the Canadian ban on foreign buyers remains in effect until January 1, 2027.
Update:
In response to today’s decision, President Trump has advised that he will continue his tariff strategy using other legislations, starting with an additional Global Tariff of 10%.
The US Treasury Secretary, Scott Bessent, has said, “Let’s be clear: the Court did not rule against this Administration’s tariffs. It only said IEEPA can’t be used to raise revenue. We will immediately shift to other proven authorities—Sections 232, 301, and 122—to keep our tariff strategy strong.”
Update 2:
President Trump has since raised the additional Global Tariff to 15%.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
El Corazon was a 25-foot driftwood sculpture figure that had been designed by resident artists Julie Ryan and Thelia Sanders Shelton, who had built it in 23 days. El Corazon was a major attraction from 2017 until 2018 when strong storms had sadly washed it away.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
1 Seaport was to have been a 60-storey, all-glass luxury residential tower in Manhattan.
Instead, it became one of the biggest condominium nightmares to happen to New York City all because the builder had sought to save costs on the foundation of what would have been an iconic landmark, but instead has become the leaning tower of New York.
1 Seaport “The Banana Tower” in ruins – Too expensive to demolish. Too expensive to fix.
The developer of 1 Seaport, Fortis Property Group, had opted for a cost-saving shortcut on the building’s foundation that ultimately caused the infamous lean. Instead of using the standard Manhattan skyscraper practice of driving deep piles into bedrock for stable support, especially crucial on the site’s soft, wet, landfill-adjacent soil near the East River, Fortis chose a cheaper “soil improvement” method. This involved techniques like draining, compacting, and injecting materials, such as grout or chemical consolidation, to strengthen the upper soil layers before pouring a concrete slab foundation. The approach had reportedly saved about $6 million (roughly 2% of the total project budget), but it had led to uneven settlement as the soil continued to shift under the weight of the 670-foot, 60-story tower. This had resulted in the structure leaning approximately three inches to the north, with some reports noting up to eight inches at higher levels, which had been discovered around 2018 during construction. The decision had ignored engineering recommendations and warnings about the risks on such unstable ground, sparking lawsuits. The shortcut had turned a minor savings into major delays, litigation, stalled progress, and a project that has remained unfinished and largely abandoned for years. It serves as a cautionary tale in high-rise development about prioritizing short-term cost cuts over long-term structural integrity.
How Palace Place differs
Palace Place was built with a caisson foundation, a very sound, advanced foundation system found in the world’s best-known skyscrapers and in marine construction environments like New York and Hong Kong. In fact, the construction of Palace Place had garnered headlines from around the world. Palace Place stands on 145 tower caissons that had been driven into solid bedrock up to 120 feet deep. As a comparison, the Burj Khalifa, the world’s tallest building in Dubai, uses 192. These caissons install directly into bedrock and are considered the highest standard for foundations. The foundation of Palace Place had been built using extra-deep shaft caissons.
Construction of the Palace Place foundation, extra-deep shaft caissons (C) Luke Dalinda
A caisson foundation is a foundation system used to support tall buildings by anchoring them to solid bedrock. It consists of a prefabricated cylinder that is drilled into the ground to bedrock where steel beams and rebar are inserted through the tubes and into the rock to pin the caisson in place. The tube is then filled with concrete and capped to support the major columns of the building.
Caissons are typically used when shallower foundations, like strip footings, cannot be constructed safely. Caisson foundations offer help to resist the tipping effect of winds on the building and to control movement in an earthquake. The world’s largest skyscrapers employ caisson foundations. Caisson foundations offer the greatest stability for large structures, especially at great depths.
(C) Luke Dalinda
The foundation is the most important aspect of any construction. You only get one chance to do it right. This is why buyers must realize that “newer” is not “better”. In today’s competitive market, some developers prioritize cost savings over long-term quality, as has tragically been shown by the 1 Seaport disaster in New York, where shortcuts on the foundation caused a permanent lean despite approvals from city engineers and building codes. Buyers often enter the condo market with a false sense of security, assuming all new condos are built to the same high standards without knowing the right questions to ask about foundations, structural integrity, or the building envelope. Unfortunately, Toronto has seen its share of new and recent condos plagued by serious issues—like envelope failures, leaks, or premature structural repairs—leaving owners facing massive special assessments or diminished value.
When was the last time you saw a condo brochure highlight the foundation system or cladding details? They sell the dream, not the engineering.
Completed in 1993, at a record $200-million, Palace Place was built by Bramalea Limited, Canada’s largest builder at the time. Palace Place was built to set a standard and example for condominiums in Canada.
When you work with the Dalinda Team, you partner with seasoned professionals who scrutinize every detail of construction and recommend only the most select, high-quality projects for your consideration.
Watch the 1 Seaport video below for more on this condo tragedy.
For more about Palace Place, order Luke Dalinda’s book.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
“In Toronto’s west end, Luke Dalinda, real estate agent with Royal LePage Real Estate Services, sees signs that even that troubled segment of the market is firming up.“
Mr. Dalinda notes that inventory at Humber Bay Shores has dropped to 189 active listings at the end of January from more than 300 last summer.
While some of the listings were pulled by sellers who plan to try the rental market or wait for more favourable conditions, many were purchased by buyers, he says.
In January, there were 26 sales in the neighbourhood, he notes.
“Sales are absorbing a meaningful portion of what’s come off the shelf.”
Lowball offers are still prevalent in the bracket of tiny “shoebox” condos where buyers believe they have more leverage, he says, but fewer are landing for large condos in well-established buildings.
He also finds that sellers are more willing to set realistic prices.
At 15 Legion Rd., a one-plus-one bedroom unit sold after a total of 122 days on market. In September suite 1105 was listed with an asking price of $598,000.
But after the most recent price cut to $525,000, the property sold 17 days later for $515,000.
At 2662 Bloor St. W., suite 502 sold for $925,000 eight days after the two-bedroom unit was listed with an asking price of $989,000.
Mr. Dalinda says the location near Old Mill, combined with an intelligent floor plan of approximately 1,068 square feet, helped to sell the unit quickly.
Online now, in print on Friday!
When The Globe and Mail wants insight into the real estate market for Palace Place and Humber Bay Shores, they contact Luke Dalinda.
You should too!
Read my other recent interviews with The Globe and Mail here:
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
