Canada announces retaliatory tariffs on 700 US goods
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Canada on Tuesday announced retaliatory tariffs of 15% to 50% on around 700 US goods worth $20 billion, escalating the trade dispute between the two neighbouring countries.
The tariffs will take effect on September 8, while US tariffs on Canadian goods came into force on Saturday. Canadian officials said the measures would match US tariff levels and affect industries including steel, dairy and electronics.
“This is an unprecedented challenge imposed on Canada. But Canada will meet the moment,” Finance Minister Francois-Philippe Champagne said on Tuesday.
He said Canadians were united in their response to the US measures.
Ottawa's decision came after the Trump administration imposed 50% tariffs on Canadian goods over the weekend following the collapse of trade talks between the two countries.
Canadian Prime Minister Mark Carney said on Friday that Canada had walked away from negotiations because the US had proposed terms he described as “uneconomic” and “unfair”.
Carney said the proposed terms would undermine the net benefits for Canada and accused US President Donald Trump of starting a trade war.
“You're at war when you get attacked. We got attacked,” Carney said.
“We cannot accept what they've offered, and we will not give what they've asked,” he added.
The latest measures mark a further escalation in trade tensions between two countries whose economies are closely integrated. Ottawa's tariffs are intended to match the level of US tariffs while applying them to a broad range of American products.