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Canada announces 'dollar-for-dollar' retaliatory tariffs on US as high as 50%
Confirmed
"This is an unprecedented challenge imposed on Canada, but Canada will meet the moment," Canadian Finance Minister François-Philippe Champagne said at a press conference in Ottawa, Ontario, on Tuesday. On Tuesday, Champagne said Canada's plan is to strengthen its own economy and extend trade relations with other countries, noting that he plans to meet a trade official from India this week.
"Today, I'm announcing Canada will match the U.S. tariffs dollar for dollar, up to 50% on $27.6 billion of imports from the United States of America," Canadian Minister of Finance and National Revenue François-Philippe Champagne said in a press conference to announce the measure. Canada's levies will match U.S. tariffs "dollar for dollar, rate for rate," Champagne said, adding that the retaliatory measure would target $27.6 billion worth of U.S. goods. Finance Minister François-Philippe Champagne said that Canada's retaliation is in response to 50% tariffs imposed by the Trump administration on a range of Canadian goods after trade talks fell apart on Friday. "Those tariffs will have real consequences for Canadian workers, businesses and communities across our nation," he said. Canadian officials said that the measures are designed to protect their nation's businesses and workers.
Polls suggest the majority of Canadians support their government in holding firm against the US. "Instead of partnership, Canada chose unreasonable demands, walk-backs, and flat-out rejection," it said. "But I want to make a deal — a good deal for the American people, a good deal for Canadians," Ford said.
What's confirmed
- Finance Minister François-Philippe Champagne said that Canada's retaliation is in response to 50% tariffs imposed by the Trump administration on a range of Canadian goods after trade talks fell apart on Friday.
- "Those tariffs will have real consequences for Canadian workers, businesses and communities across our nation," he said.
- "Today, I'm announcing Canada will match the U.S. tariffs dollar for dollar, up to 50% on $27.6 billion of imports from the United States of America," Canadian Minister of Finance and National Revenue…
- Canadian officials said that the measures are designed to protect their nation's businesses and workers.
- "This is an unprecedented challenge imposed on Canada, but Canada will meet the moment," Canadian Finance Minister François-Philippe Champagne said at a press conference in Ottawa, Ontario, on Tuesday.
- Canada's levies will match U.S. tariffs "dollar for dollar, rate for rate," Champagne said, adding that the retaliatory measure would target $27.6 billion worth of U.S. goods.
What's still developing
- On Tuesday, Champagne said Canada's plan is to strengthen its own economy and extend trade relations with other countries, noting that he plans to meet a trade official from India this week.