Canada’s counter-tariffs on US goods take effect
AgenciesCanada’s retaliatory tariffs on billions of dollars in US products took effect on Tuesday, as a trade war between the North American neighbors heats up. The duties of 15 pe...
Canada's retaliatory tariffs on a $20 billion worth of US imports took effect on Tuesday, escalating tensions in the ongoing trade war between the two North American nations. The duties, ranging from 15% to 50%, apply to various goods, including steel, aluminum, and dairy products like cheese. Canada removed some seafood items from its initial list of affected products.
This move by Ottawa follows the United States imposing 50% tariffs on Canadian exports, including hockey equipment and cement, in response to what Washington perceived as "discriminatory treatment" against US industries. The US tariffs impacted roughly 5.5% of Canadian exports to the US, affecting products such as hockey sticks and industrial materials.
US President Donald Trump threatened to block Bombardier Aviation, a Quebec-based aerospace company, from selling its planes in the US unless the firm moved manufacturing to the United States. Bombardier has created thousands of jobs in the US, with direct employment in over 20 states, and spends over $2.5 billion annually with American suppliers.
Despite negotiations breaking down on August 21, analysts believe the US tariffs pose a modest risk to Canada's overall economy but have a more significant impact on Central Canada's manufacturing sector. The Canadian government has introduced a $5.4 billion aid package to support businesses and workers affected by the escalating trade dispute.
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