- Canada has announced counter-tariffs as high as 50% on a range of US goods in retaliation to the latest wave of levies on Canadian imports imposed by President Donald Trump last weekend.
- The Canadian tariffs will apply to nearly C$28bn ($20bn) worth of American products, ranging from steel to furniture, fresh tuna and cotton T-shirts, officials announced on Tuesday.
- Canada released on Tuesday a list of around 700 US products that will be hit by its counter-tariffs, including a 50% tariff on steel and aluminum products previously subject to 25%, a 50% tariff on various other goods (natural honey, furniture, clothing, makeup, perfume), a 25% tariff on appliances, dairy, fish, and certain steel/aluminum derivatives, and a 15% tariff on certain tools and machinery.
- The Canadian levies are set to come into effect on 8 September.
- On Monday, Trump threatened to hike US tariffs on Canadian automobiles to 50% as of 1 January. Prime Minister Mark Carney responded by accusing Trump of wanting to "destroy" Canadian industries including the automobile manufacturing and steel and aluminum sectors.
- Finance Minister François-Philippe Champagne said that Canada's retaliation is in response to 50% tariffs imposed by the Trump administration on a range of Canadian goods after trade talks fell apart on Friday.
- Champagne said: "Those tariffs will have real consequences for Canadian workers, businesses and communities across our nation. Canada must respond." He characterised Canada's retaliation as "proportionate" and "strategic".
- After calling Trump a "loser" on Monday at a news conference, Ontario Premier Doug Ford acknowledged in an interview with CNN that "things got a little heated". He said: "But I want to make a deal – a good deal for the American people, a good deal for Canadians."
Canada's Prime Minister Mark Carney has matched U.S. tariffs dollar-for-dollar, imposing 50% levies on American goods including steel, dairy, and electronics. This retaliation, effective September 8, targets nearly C$28 billion worth of products, reflecting the escalating trade war initiated by President Trump.234567910
Finance Minister François-Philippe Champagne stated, "Those tariffs will have real consequences for Canadian workers, businesses and communities across our nation. Canada must respond." He characterized the response as "proportionate" and "strategic", emphasizing the need to protect Canadian industries.11
The tariffs will affect a wide array of products, including furniture, clothing, and electronics. Specifically, the Canadian government will impose a 50% tariff on steel and aluminum products, which were previously subject to a 25% counter-tariff. Other goods facing the new tariffs include natural honey, makeup, and certain dairy products.
In addition to the tariffs, Canada plans to allocate C$7.5 billion for support programs aimed at minimizing job losses and assisting businesses impacted by U.S. tariffs. This move comes as tensions rise, with Trump threatening to increase tariffs on Canadian automobiles to 50% starting January 1.
The Canadian government has released a list of around 700 U.S. products that will be affected by these counter-tariffs, marking a significant escalation in the ongoing trade dispute.
“The counter-tariffs target nearly C$28bn ($20bn) of American products, with a 50% tariff on steel and aluminum that was previously 25%. Canada also pledged an additional C$7.5bn in support for affected businesses and workers, and the levies take effect on 8 September.”
BBC
