A Canadian politician has said Donald Trump can “kiss my ass” after the US President threatened 50 per cent tariffs on key industries.

Canada will impose tariffs on American dairy, farm equipment, appliances and steel in a retaliatory strike against President Donald Trump’s latest trade hit.

"Trump is going to be hitting American consumers with a new round of tax hikes just over two months before the election," said one economist.

US-Canada trade tensions have escalated after US President Donald Trump imposed 50% tariffs on Canadian imports following failed negotiations. From the USMCA review and…