Canada hits back with $20bn tariffs on 700 US goods

Canada has announced retaliatory tariffs of up to 50% on roughly 700 American products, days after the US imposed a 50% tariff on $20 billion worth of Canadian goods amid collapsed trade talks.

According to ZeroHedge, the tariffs, set to begin September 8, include a doubling of duties on American steel and aluminum to 50%, alongside levies on tools, clothing, forestry products and home appliances.

Prime Minister Mark Carney said Canada would match US tariffs “dollar for dollar,” acknowledging the move would raise costs for Canadians. Canada is maintaining its 25% retaliatory tariff on American-made cars.