International News: Canada announces retaliatory tariffs of up to 50% on U.S. goods

By Zoila Palma:  Canada has announced retaliatory tariffs of up to 50% on a range of American products following the latest wave of tariffs imposed by U.S. President Donald Trump on Canadian imports.

The Canadian measures will target nearly C$28 billion worth of U.S. goods, including steel, furniture, fresh tuna and cotton T-shirts, with the new tariffs set to take effect on September 8, BBC reports.

Canadian officials said the list was designed to closely match the products affected by the latest U.S. tariffs. The move follows the collapse of trade talks between the two countries last week, with both sides accusing the other of making unreasonable demands during the negotiations.

Finance Minister François-Philippe Champagne described Canada’s response as “proportionate” and “strategic,” saying the U.S. tariffs would have consequences for Canadian workers, businesses and communities.

Canada will also provide an additional C$7.5 billion in support programmes for workers and businesses affected by the trade measures, with the aim of limiting job losses and helping companies remain operational.

The escalating trade dispute could have consequences on both sides of the border, particularly for industries dependent on supply chains that have developed between the two countries over decades.

Higher trade costs could increase expenses for businesses and potentially result in higher prices for consumers as companies adjust to the new tariffs.

Trump has not publicly responded directly to Canada’s latest counter-tariffs but today accused Canada of having taken advantage of the United States for decades.

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