Canada’s retaliatory tariffs on US goods take effect Sept 8

Canada's retaliatory tariffs on U.S. goods will commence on September 8, marking the day after the country's Labour Day. Prime Minister Mark Carney announced the move over the weekend, following the failure of last-minute bilateral trade talks between Ottawa and Washington. Carney accused Americans of "asking too much and offering too little," contending that Canadian exports to the U.S. lower costs for American families.

The Canadian leader stated that Ottawa would match the U.S. tariffs "dollar for dollar" to shield workers, farmers, families, and businesses. The U.S. 50% duty, effective August 22, targets goods accounting for 5.5% of Canada's total exports, impacting roughly $20 billion worth of Canadian goods. Affected items include alcohol, dairy products, wine, cement, clothing, plywood, aluminum, steel, and hockey equipment.

Ottawa plans to disclose the specifics of its new tariff measures in two weeks. President Donald Trump had claimed Canada desired the "benefits of being a State without being one," while U.S. negotiators asserted they had offered tariff cuts on lumber and steel, which Canada rejected. Carney dismissed the new U.S. duty as "designed to hurt us and divide us," vowing to build a stronger domestic economy and diversify trading relationships overseas.

The Canadian leader emphasized that Washington's action was a "miscalculation," acknowledging that America's stance had changed. Canada's retaliatory tariffs on U.S. goods take effect September 8.