Canada hits back at Trump, unveils dollar-for-dollar counter-tariffs
Canada has announced retaliatory tariffs of up to 50% on $27.6 billion worth of US goods following the collapse of trade negotiations. The move escalates a trade war, with both sides exchanging threats regarding specific industries and national rhetoric.
Why it matters
This escalation threatens to disrupt North American supply chains and significantly impact the economic relationship between the two largest trading partners in the region.
Canada on Tuesday announced retaliatory tariffs of up to 50% on about $27.6 billion worth of US goods, escalating the trade war between the two neighbours after trade negotiations between Ottawa and Washington collapsed.The new measures, which will take effect on September 8, will cover a wide range of US products, including seafood, dairy, paper products, furniture, apparel, tools, cosmetics and motorcycles.The federal government is introducing counter-tariffs on a swath of US goods. These new retaliatory tariffs will have a sliding scale of 15, 25 and 50%.The highest tariff of 50% will apply to certain dairy products, cosmetics and lumber products.
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