On September 8, Canada is set to enact tariffs ranging from 15% to 50% on over 700 American goods in an effort to match US tariffs dollar for dollar, Canadian officials announced on Tuesday.
Notably, Canada is doubling its duties on US steel and aluminum to 50%, in line with the 50% tariffs the US had already imposed on Canadian steel and aluminum before the latest round of US tariffs. Canadian officials framed the move as a means of protecting Canadian manufacturing.
The duties the US recently imposed on Canadian goods “will have real consequences for Canadian workers, businesses, and communities across our nation,” Canadian Finance Minister François-Philippe Champagne said in a press conference on Tuesday. “Canada must respond, and today we are in a proportionate, targeted, and strategic way.”
These types of retaliatory tariffs are just some of the arrows Canada has in its quiver in a growing trade war with the United States.
Beyond tariffs, Canada also has other tools at its disposal, including restrictions on key exports to the United States.
