Canada slaps retaliatory tariffs on US goods worth US$20 billion as trade war intensifies
The counter-tariffs take effect from Sep 8 and will impose duties ranging from 15 per cent to 50 per cent across 700 US products.
Canada has announced retaliatory tariffs worth US$20 billion on US goods, escalating the ongoing trade war with the United States. The tariffs range from 15 to 50 percent and will be implemented starting September 8, according to Prime Minister Mark Carney. The counter-tariffs affect industries such as steel, dairy, and electronics, targeting products like frozen fish, dishwashers, and railway construction materials.
Finance Minister Francois-Philippe Champagne stated that the retaliatory tariffs mirror US levels, with an impact on various sectors.
In addition, Canada has announced a C$7.5 billion (US$5.4 billion) aid package for firms and workers. Industry Minister Melanie Joly urged Canadians to support local businesses and pledged to fight back if Trump raised tariffs on Canadian autos to 50 percent. The United States is Canada's largest trading partner, with Canadian exports to the US accounting for 70 percent of its overall total. The White House accused Canada of discriminatory treatment against US products, including alcohol, automobiles, and dairy.
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