Canada unveils counter tariffs of 15% to 50% on US goods
OTTAWA — Canada on Tuesday announced counter-tariffs on U.S. goods ranging between 15 percent and 50 percent, 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 U.S. President Donald Trump's 50-percent duties on Canadian products came into place Saturday. In detailing…
Ottawa has announced counter-tariffs on U.S. goods ranging from 15% to 50%, escalating the long-standing trade conflict between the two countries. The retaliatory measures will commence on September 8, earlier announced by Prime Minister Mark Carney following President Donald Trump's imposition of 50% duties on Canadian products on Saturday.
Officials revealed that Canada's duties will mirror U.S. levels, affecting sectors like steel, dairy, and electronics. Canada's government also unveiled a $5.4 billion (CA$7.5 billion) aid package to assist affected firms and workers, marking an unprecedented challenge. Prime Minister Carney stated that Canada will meet this momentous challenge.
Finance Minister Francois-Philippe Champagne emphasized unity, declaring that Canada stands together in response. The U.S. tariffs targeted approximately $20 billion worth of Canadian goods, accounting for around 5.5% of Canada's exports to the United States. The trade war intensified after trade talks faltered at the last minute.
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