Canada announced retaliatory tariffs on $20 billion worth of U.S. imports, aiming to match President Donald Trump’s tariffs "dollar for dollar."
The action marks an escalation in the growing trade war between the two countries, after talks collapsed last week and Trump imposed 50% tariffs Aug. 22 on about 5% of Canadian imports. The Canadian duties take effect Sept. 8 and range from 15% to 50% on 700 products.
"Our dollar-for-dollar, rate-for-rate counter-tariffs as well as a multibillion-dollar support package will protect workers, farmers, families, and businesses," Canada's Finance Minister François-Philippe Champagne said.
The 50% tariffs apply to steel, aluminum, furniture and clothing. The 25% tariffs are on cheese, appliances and some seafood. The 15% tariffs will be on electronics and tools.