WorldEconomy
Canada slaps retaliatory tariffs on U.S. goods as trade dispute deepens
Canada announced counter-tariffs of 15-50% on about USD 20 billion worth of U.S. goods, effective September 8, after Washington imposed 50% duties following collapsed trade talks.
Canada on Tuesday announced retaliatory tariffs on about USD 20 billion worth of American goods, with duties ranging from 15 to 50 percent. The measures take effect on September 8 and follow U.S. tariffs of 50 percent imposed over the weekend after trade negotiations collapsed.
The list of affected U.S. products includes steel, dairy, electronics, appliances, farm equipment, seafood, cheese, clothing, cosmetics and toilet paper. Canadian officials said the tariffs match U.S. levels in some categories.
Prime Minister Mark Carney accused Washington of trying to subordinate Canada. Finance Minister Francois-Philippe Champagne said, "This is an unprecedented challenge imposed on Canada. But Canada will meet the moment." Canada also announced a $5.4 billion (CA$7.5 billion) aid package for affected firms and workers.
The escalation threatens one of the world's largest trading relationships, extending beyond industrial goods to everyday purchases.
WorldEconomy
Canada slaps retaliatory tariffs on U.S. goods as trade dispute deepens
Canada announced counter-tariffs of 15-50% on about USD 20 billion worth of U.S. goods, effective September 8, after Washington imposed 50% duties following collapsed trade talks.
Canada on Tuesday announced retaliatory tariffs on about USD 20 billion worth of American goods, with duties ranging from 15 to 50 percent. The measures take effect on September 8 and follow U.S. tariffs of 50 percent imposed over the weekend after trade negotiations collapsed.
The list of affected U.S. products includes steel, dairy, electronics, appliances, farm equipment, seafood, cheese, clothing, cosmetics and toilet paper. Canadian officials said the tariffs match U.S. levels in some categories.
Prime Minister Mark Carney accused Washington of trying to subordinate Canada. Finance Minister Francois-Philippe Champagne said, "This is an unprecedented challenge imposed on Canada. But Canada will meet the moment." Canada also announced a $5.4 billion (CA$7.5 billion) aid package for affected firms and workers.
The escalation threatens one of the world's largest trading relationships, extending beyond industrial goods to everyday purchases.