US Imposes 50% Tariffs on Canadian Goods as Trade Talks Fail, Canada Vows Retaliation
- The United States imposed 50% tariffs on about $20 billion in Canadian goods on Saturday after last-ditch negotiations failed, with duties taking effect at 12:01 a.m. EDT.
- Prime Minister Mark Carney suspended trade negotiations Friday, calling last-minute U.S. changes "unfair, uneconomic, and called into question the reliability of any deal." The U.S. blamed Canada, terming it "a missed opportunity for Canada to partner with the United States."
- Canada will retaliate against the new levies "dollar for dollar" to protect workers and businesses, amid a trade relationship worth $880 billion in annual goods and services.
- With tariffs now in effect, Carney directed negotiators to return to Ottawa and pledged new government measures to support Canadian workers and industries facing the trade dispute.
- The tariffs could thwart Canada's economic recovery and reshape bilateral engagement in coming months, marking an extraordinary departure from the traditionally cooperative relationship between the historic allies.
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Canada will impose retaliatory tariffs on about 700 products imported from the United States on September 8, worth C$27.6 billion. The Ottawa government also announced a C$7.5 billion support package for businesses and workers affected by the escalating trade war.
Canada on Tuesday announced retaliatory tariffs on 27.6 billion Canadian dollars ($19.94 billion) worth of U.S. goods and announced financial support measures for Canadian businesses and workers hit by the escalating trade war, Reuters reports.
The US increased tariffs on Canadian goods over the weekend. Now Canada is retaliating against 700 US products
Timmins Today
Airdrie City ViewCP Ottawa to hike tariffs on U.S., steel, aluminum to 50% in retaliation
OTTAWA — The federal government is upping tariffs on American steel and aluminum products from 25 to 50 per cent in retaliation for the United States imposing tariffs last week on nearly $28 billion of Canadian goods.
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