Canada hits US goods with retaliatory tariffs

Canada has announced retaliatory tariffs on 700 American products, escalating its trade confrontation with the US. The tariffs, which range from 15% to 50%, will take effect from September 8 and are in response to US President Donald Trump's recently announced tariffs.

The Canadian government said the new measures will impact industries including steel, dairy, and electronics, with products such as frozen and fresh fish, dishwashers, washing machines, and railway construction materials affected. According to Channel News Asia, Canada's Finance Minister François-Philippe Champagne said the retaliatory tariffs match US levels.

Canada's government has also announced a C$7.5 billion aid package for firms and workers affected by the tariffs, with Champagne stating that "this is an unprecedented challenge imposed on Canada, but Canada will meet the moment." The move is seen as an intensification of the trade war between the historically close allies.

Brief written by urgent.news from Punch, Punch Nigeria, FXStreet, Channel News Asia, CBS News — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.