Canada's 'targeted' and 'strategic' retaliation against US tariffs
On Tuesday, Ottawa detailed its measures against Washington in response to the new US tariffs. Caught between taking a firm stance and the need to protect its economy, Canada is trying to strike the right balance.
Canada has announced retaliatory tariffs on US goods, ranging from 15 to 50 percent, in response to new US tariffs. The Canadian tariffs will take effect on September 8 and target industries such as steel, dairy, and electronics. According to Malay Mail, the tariffs will impact goods including frozen and fresh fish, dishwashers, washing machines, and railway construction materials.
The move is part of an escalating trade war between the US and Canada, with the US imposing 50 percent duties on certain Canadian goods. Canada's Finance Minister, Francois-Philippe Champagne, stated that the retaliatory tariffs match US levels and that the Canadian government will provide a US$5.4 billion aid package for firms and workers affected by the tariffs.
Industry Minister Melanie Joly urged Canadians to support local businesses and vowed to work with new allies and trading partners. She also pledged to "fight back" if US President Donald Trump raised US tariffs on Canadian autos to 50 percent, as reported by Malay Mail.
Brief written by urgent.news from Le Monde English, BusinessDay Nigeria, National Post, Malay Mail — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
