Canada to impose 15-50% tariffs on US goods in trade dispute retaliation

Canada is standing united in its response to the "unprecedented challenge" of the trade war initiated by the United States, according to Finance Minister François-Philippe Champagne. The minister announced on Tuesday that the country will impose retaliatory customs surtaxes ranging from 15% to 50% on a variety of American products, effective September 8.

This action comes as a direct countermeasure to the tariffs the U.S. has already placed on all Canadian goods. Champagne stated, "This is an unprecedented challenge imposed on Canada. But Canada will rise to the occasion."

In addition to the tariffs, the Canadian government is allocating C$7.5 billion (4.6 billion euros) to aid sectors hit hard by the ongoing trade dispute. This funding aims to bolster business cash flow and enhance unemployment compensation, demonstrating a commitment to mitigating the economic impact on its own industries.