Canada is escalating its response to Washington’s latest trade measures, introducing tariffs on a range of American products. The move follows the collapse of bilateral negotiations and the imposition of new US duties on Canadian goods.
New tariffs from September 8
Canadian Finance Minister François-Philippe Champagne announced that tariffs ranging from 15% to 50% will be imposed on selected US products from September 8.
The measures will target American steel, dairy products, agricultural equipment, paper products, electronics and household appliances.
Prime Minister Mark Carney had outlined the retaliatory measures on Saturday.
Champagne said Canada was “united in its response” to the “unprecedented challenge” posed by the US trade dispute.
“This is an unprecedented challenge imposed on Canada. But Canada will rise to the occasion,” he said.
C$7.5 billion support package
The Canadian government will also release C$7.5 billion (€4.6 billion) in financial assistance for sectors severely affected by the dispute.
The package is intended to support business liquidity and strengthen unemployment benefits for affected workers.
Trade talks break down
Ottawa’s response follows the collapse of bilateral negotiations aimed at reaching a trade agreement between the neighbouring countries.
Carney suspended the talks on Friday, saying Canada wanted to avoid what he described as “a bad deal”. US President Donald Trump subsequently announced further tariffs on Canadian exports.
New US tariffs of 50% on Canadian imports worth approximately $20 billion had already taken effect on Saturday.
Source: AMNA
