Canada's retaliatory tariffs set to take effect at midnight
Canada's latest retaliatory tariffs against the U.S. are set to take effect overnight Monday into Tuesday. CBS News business contributor Javier David joins to discuss how your finances could be impacted.
Canada is imposing up to 50% tariffs on a wide range of US imports starting Tuesday, as tensions in the US-Canada trade war escalate. The new levies will affect hundreds of US goods, such as cheese, honey, and aluminum foil, in retaliation for Trump's August tariffs on Canadian products like beer and milk. President Donald Trump also threatened to block Canadian plane maker Bombardier from selling in the US.
The trade conflict has left businesses and consumers uncertain, with some Canadian companies relocating production to the US and Canadian Prime Minister Mark Carney criticizing the US for "doing memes" and "throwing shade." The Canadian tariffs, ranging from 15% to 50% depending on the item, aim to match the impact of the US tariffs on tens of billions of dollars in goods.
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- Canada's incoming tariffs target US cheese, honey, aluminum foil, and hundreds of other items as trade war heats up businessinsider.com
- Canada’s retaliatory US tariffs set to take effect as trade dispute grows theguardian.com
- Sapporo beer moving production to U.S. from Canada after tariffs nationalpost.com
