What happenedCanada on Tuesday released a list of more than 700 U.S. products it plans to tax at up to 50% in response to 50% tariffs President Donald Trump imposed on $20 million of Canadian goods over the weekend. The “dollar-for-dollar, rate-for-rate counter-tariffs” will be paired with $5.4 billion in support to protect Canadian workers and businesses, said Finance Minister François-Philippe Champagne in a press conference. Industry Minister Mélanie Joly said Canada was “targeting products” that will “put political pressure” on the Trump administration in certain states.
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