Canada announced retaliatory tariffs on U.S. goods on Tuesday as the two countries fall deeper into a trade battle that has gone on since late July. Canadian Prime Minister Mark Carney said Canada will match U.S. tariffs “dollar for dollar.”
The countertariffs will focus on industries including steel, dairy, paper and electronics, according to Canada’s Finance Ministry, and are expected to be on about $27 billion of annual U.S. imports. The tariffs, planned to go into effect Sept. 8, are set at 15%, 25% and 50%.
The move comes after 50% tariffs that are expected to affect $20 billion worth of Canadian exports to the U.S. went into effect on Saturday.
Carney said in a statement issued on Friday that trade conversations ended before the deadline because “last-minute changes to the U.S. proposed terms were unfair, uneconomic and called into question the reliability of any deal.”
President Donald Trump threatened higher tariffs on Canadian goods during trade talks on Friday and went on social media to accuse Canada of “Ripping Off” the U.S. and to threaten to rename Lake Ontario to “Lake America.”
