In response to an escalating trade dispute with the United States, Canada has announced new retaliatory tariffs on approximately $20 billion worth of American imports starting September 8. Following the collapse of bilateral trade negotiations, the Trump administration previously raised tariffs on Canadian goods to 50%, prompting this strict Canadian countermeasure. Canadian Finance Minister François-Philippe Champagne confirmed the move, emphasizing that “more than 700 US-made products will be targeted” with duties designed to match the US rates. Ranging from 15% to 50%, the new taxes will affect various imported industries, including steel, agricultural machinery, white goods, and dairy products. Additionally, existing counter tariffs on American automobiles will remain fully in effect as the trade war continues to deepen.
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