Canada retaliates with 50% tariffs as US trade war escalates
Canada has announced retaliatory tariffs of up to 50 percent on about C$28 billion ($20 billion) of US goods, escalating a trade dispute between two of the world’s most closely integrated economies.
The measures, which take effect on September 8, target products including steel, furniture, tuna, clothing, cotton T-shirts and other goods affected by US tariffs imposed by President Donald Trump.
François-Philippe Champagne, the Finance Minister, described the response as “proportionate” and “strategic”, while announcing an additional C$7.5 billion support package for businesses and workers affected by the trade dispute.
The latest escalation follows the collapse of US-Canada trade talks last week. Both sides accused the other of making unreasonable last-minute demands.
