WorldEconomy
Canada announces retaliatory tariffs on U.S. goods as trade war escalates
Canada will impose counter-tariffs of 15-50% on about USD 20 billion worth of U.S. goods starting September 8, after the U.S. placed 50% tariffs on Canadian goods.
Canada announced on Tuesday retaliatory tariffs ranging from 15% to 50% on U.S. goods, escalating a trade dispute between the two countries. The counter-tariffs, set to take effect on September 8, apply to about USD 20 billion worth of American products, including steel, dairy, appliances, farm equipment, seafood, cheese, clothing, cosmetics and toilet paper.
The move followed the Trump administration's imposition of 50% tariffs on Canadian goods over the weekend, which came after trade negotiations collapsed.
Canadian officials said the retaliatory tariffs match U.S. levels. The government also announced a $5.4 billion (CA$7.5 billion) aid package for affected firms and workers.
Finance Minister Francois-Philippe Champagne said, "This is an unprecedented challenge imposed on Canada. But Canada will meet the moment."
Canadian Prime Minister Mark Carney accused Washington of trying to subordinate Canada, as the dispute threatened one of the world's largest trading relationships.
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- US-Canada tariff war
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WorldEconomy
Canada announces retaliatory tariffs on U.S. goods as trade war escalates
Canada will impose counter-tariffs of 15-50% on about USD 20 billion worth of U.S. goods starting September 8, after the U.S. placed 50% tariffs on Canadian goods.
Canada announced on Tuesday retaliatory tariffs ranging from 15% to 50% on U.S. goods, escalating a trade dispute between the two countries. The counter-tariffs, set to take effect on September 8, apply to about USD 20 billion worth of American products, including steel, dairy, appliances, farm equipment, seafood, cheese, clothing, cosmetics and toilet paper.
The move followed the Trump administration's imposition of 50% tariffs on Canadian goods over the weekend, which came after trade negotiations collapsed.
Canadian officials said the retaliatory tariffs match U.S. levels. The government also announced a $5.4 billion (CA$7.5 billion) aid package for affected firms and workers.
Finance Minister Francois-Philippe Champagne said, "This is an unprecedented challenge imposed on Canada. But Canada will meet the moment."
Canadian Prime Minister Mark Carney accused Washington of trying to subordinate Canada, as the dispute threatened one of the world's largest trading relationships.
- canada usa trade war
- canada retaliatory tariffs usa
- canada america tariffs
- lake ontario america
- Donald Trump
- Mark Carney
- retaliatory tariffs
- US-Canada tariff war
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