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Canada Slaps USD20B in Retaliatory Tariffs on US Goods
(MENAFN) Canada launched sweeping retaliatory tariffs on CAN$27.6 billion ($20 billion) worth of American goods in the early hours of Tuesday, deepening a trade war between the two neighbors.
The countermeasures took effect at 12:01 a.m. local time (0401 GMT) and are designed to match US Section 338 tariffs "dollar for dollar." Ottawa is now imposing tariffs of 15%, 25% and 50% on American imports, hitting key industries including steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.
The move comes on the heels of collapsed bilateral trade talks in late August, which pushed President Donald Trump's administration to impose 50% tariffs on major Canadian exports. Washington's measures, enacted under Section 338 — a trade provision granting the president authority to impose retaliatory barriers — targeted steel, aluminum, lumber and automotive components.
Canada stressed that its counter-tariffs apply solely to goods originating in the US and will not touch shipments already in transit on the day the measures took hold.
The dispute has escalated sharply since Trump returned to office, marked by repeated rounds of tariffs and countermeasures on both sides of the border. Trump has frequently pointed to the US-Canada trade imbalance as justification for the tariffs, regularly accusing Ottawa of "ripping off" America.
The countermeasures took effect at 12:01 a.m. local time (0401 GMT) and are designed to match US Section 338 tariffs "dollar for dollar." Ottawa is now imposing tariffs of 15%, 25% and 50% on American imports, hitting key industries including steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.
The move comes on the heels of collapsed bilateral trade talks in late August, which pushed President Donald Trump's administration to impose 50% tariffs on major Canadian exports. Washington's measures, enacted under Section 338 — a trade provision granting the president authority to impose retaliatory barriers — targeted steel, aluminum, lumber and automotive components.
Canada stressed that its counter-tariffs apply solely to goods originating in the US and will not touch shipments already in transit on the day the measures took hold.
The dispute has escalated sharply since Trump returned to office, marked by repeated rounds of tariffs and countermeasures on both sides of the border. Trump has frequently pointed to the US-Canada trade imbalance as justification for the tariffs, regularly accusing Ottawa of "ripping off" America.
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