Carney matches Trump tariffs with 50% tax on U.S. dairy, steel
The retaliatory levies will affect $20 billion worth of annual U.S. exports to Canada.
In a move to counter the recent tariffs imposed by President Donald Trump, Canada's Prime Minister Mark Carney announced new retaliatory measures and support programs for Canadian businesses affected by the escalating trade war. Carney doubled the country's existing counter-tariffs on U.S. steel and aluminum products to 50%. Additionally, new 50% duties will be applied to American-made milk, furniture, clothing and apparel, as well as video-game consoles, smartphones, and other electronics.
This retaliatory levy impacts $20 billion worth of annual U.S. exports to Canada, which is comparable to the dollar-value impact of the tariffs imposed on Canadian products by the White House on Saturday. This new measure represents about 6% of U.S. exports to Canada last year.
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