Canada Imposes Retaliatory Tariffs of Up to 50% on US

Following the failure of trade negotiations between the two countries, Canada announced that it has introduced retaliatory tariffs of up to 50% on approximately 28 billion Canadian dollars worth of American goods in response to US import duties.

Collapse of Trade Talks

Trade negotiations between the US and Canada completely collapsed last weekend after both sides accused each other of making unreasonable last-minute demands. Following the failure of the talks, the US administration implemented new tariffs on Canadian imports.

Scope of the Retaliatory Tariff

The Canadian government implemented retaliatory measures, which it described as strategic and proportionate, in response to the policies applied by the US. Targeting approximately 28 billion Canadian dollars worth of American products, these measures cover a wide range of goods from steel and furniture to whiskey and cotton t-shirts.

Implementation Date and Support Package

In a statement made by officials on Tuesday, it was announced that Canada's new customs tariffs will officially enter into force on September 8. Meanwhile, Canada will introduce an additional support program amounting to 7.5 billion Canadian dollars to assist businesses and workers adversely affected by the US tariffs.