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President Trump speaks with Canadian Prime Minister Mark Carney at the G7 last month. Photo: Evelyn Hockstein/Pool/AFP via Getty Images

The Trump administration said Monday that it will impose an additional 50% tariff on certain Canadian goods — including hockey sticks, wine and cement — accusing Canada of discriminating against U.S. exports.

Why it matters: The move ratchets up tensions in an increasingly bitter trade dispute between two of the world's closest economic partners.