US imposes 50% tariffs on Canadian goods
The United States has imposed 50% tariffs on some Canadian goods after trade talks between both countries collapsed. Canada has pledged dollar-for-dollar retaliation. The new duties took effect shortly after midnight and cover about $20 billion of Canadian goods. The affected products represent slightly more than 5% of Canada’s US exports. Read more: US imposes 50pc tariffs on […]
The United States has imposed 50% tariffs on some Canadian goods after trade talks between the two countries collapsed. The new duties, which took effect shortly after midnight, cover about $20 billion of Canadian goods, representing slightly more than 5% of Canada's US exports.
According to the Daily Times, Canada has pledged dollar-for-dollar retaliation. The affected products include items such as wooden ice hockey sticks, plywood, liquor, electrical equipment, and hockey gear.
The collapse of trade talks and the imposition of tariffs have increased tensions between US President Donald Trump and Canadian Prime Minister Mark Carney, and are likely to make broader talks to renew the US-Mexico-Canada free trade agreement more difficult, as reported by Dawn. Carney stated that he had suspended trade negotiations and directed Canada's negotiators to return to Ottawa.
Brief written by urgent.news from Daily Times, Dawn, Dawn Business, Live Mint, WSJ Economy — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
