Canada Imposes $20 Billion in Retaliatory Tariffs Against US Duties
As trade tensions escalate between the two countries, the Ottawa government has officially enacted tariffs on specified products in response to Washington's duties.
Canada has enacted customs duties on U.S.-origin goods valued at approximately $20 billion, covering apparel, cheese, metal, and wood products, in retaliation against United States tariffs.
New Step in Trade Tensions
According to information reported by The New York Times, following the trade tension between the U.S. and Canada, retaliatory actions have begun against the tariffs introduced by the Washington administration.
Canada announced that it has implemented the retaliatory measures prepared against the policies applied by the U.S. in accordance with the planned schedule.
Products Under Retaliation
With the new regulations coming into effect, various items such as apparel, cheese, metal parts, and wood products have been included under the tariff scope.
It was reported that these implemented measures target U.S. products with a total value of $20 billion.
US 50 Percent Tariff
The U.S. administration had previously taken a decision on July 21 claiming that Canada was engaging in discriminatory practices against American products.
For this reason, Washington publicly announced that a 50 percent customs duty would be applied to certain goods imported from Canada.
Canada's Matching Tariffs
The Canadian side, in a statement made on August 25, had announced that it would respond to the 50 percent tariff imposed on approximately $20 billion worth of U.S. goods.
Within the scope of the tariffs prepared to match the relevant U.S. rates, it was decided to apply customs duties of 15 percent, 25 percent, or 50 percent on the products.