'Not A US Subsidiary': Canada To Announce Retaliatory Tariffs Today

Canada is poised to announce retaliatory tariffs today, escalating a trade dispute with the United States. The move comes after President Donald Trump threatened significant new tariffs, including a 50% levy on Canadian vehicles, auto parts, and steel.

Canadian officials have expressed strong opposition to the U.S. demands. Governor of the Bank of Canada, Carney, stated that Washington's trade demands signaled an intent to "destroy our major industries," specifically naming the automotive, steel, and aluminum sectors.

The Canadian government views these actions not merely as trade disputes but as a direct threat to its industrial base. The impending retaliatory measures signal a hardening stance from Ottawa in the face of perceived aggressive trade tactics from Washington.

This announcement is expected to further strain economic relations between the two North American neighbors, with potential implications for businesses and consumers on both sides of the border.

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US trade demands showed Washington wanted to 'destroy our major industries,' including autos, steel and aluminum.