Canada hits back at Trump with tariffs of up to 50%
Ottawa: Canada on Tuesday announced counter-tariffs on US goods ranging between 15 per cent and 50 per cent, intensifying the trade war between the historically close allies. Ottawa's retaliation takes effect September 8, a timeframe earlier outlined by Prime Minister Mark Carney after US President Donald Trump's 50-percent duties on Canadian products came into place Saturday. Get updated faster…
Canada retaliated to US President Donald Trump's 50-percent tariffs on Canadian goods by imposing its own counter-tariffs on US products, ranging from 15% to 50% depending on the industry. The new tariffs, set to take effect on September 8, impacted sectors such as steel, dairy, and electronics. Canada's Finance Minister Francois-Philippe Champagne announced a $5.4 billion (CA$7.5 billion) aid package for affected firms and workers.
This response comes after US trade negotiations collapsed at the eleventh hour, resulting in about $20 billion in Canadian goods facing duties, equivalent to 5.5 percent of its exports to the United States. Canadian Prime Minister Mark Carney reiterated that Canada would match the US tariffs, stating they were an unprecedented challenge, but Canada would meet the moment.
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