Canada strikes back at U.S. with tariffs on $20 billion in goods

Canada has retaliated against U.S. tariffs by imposing its own duties on American goods. Effective September 8, Canada will levy tariffs of 15%, 25%, and 50% on approximately 700 products imported from the United States, totaling $19.94 billion.

This action is a direct response to the 50% tariffs that U.S. President Donald Trump recently placed on $20 billion worth of Canadian goods. Previous negotiations between the two countries failed to avert the imposition of these new tariffs, marking a further deterioration in relations between the neighboring nations.

In addition to the retaliatory tariffs, the Canadian government announced a financial support package valued at approximately $5.4 billion. This package aims to assist small and medium-sized enterprises, maintain corporate liquidity, and provide aid to workers who may be impacted by the escalating trade war.

Canadian Finance Minister Francois-Philippe Champagne stated that the counter-tariffs, matching the value and rates of the U.S. measures, along with the multi-billion dollar support package, will protect Canadian workers, farmers, families, and businesses. A government official noted that the new tariffs are designed to minimize the impact on Canadian consumers and companies while still affecting the U.S. economy.

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Our counter-tariffs, the same value and the same rates (as the U.S.), as well as a multi-billion dollar support package will protect workers, farmers, families, and businesses.