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Canada hits back at the U.S. with tariffs as the countries' trade fight escalates
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.
Canadian Finance Minister François-Philippe Champagne said the countermeasures will match U.S. tariffs "dollar for dollar, rate for rate," with tariffs of 15%, 25% and 50% on a range of exports from the U.S., effective Sept. 8. Off On Stream on Canada announces retaliatory tariffs up to 50% against US Trump earlier said he'd impose a 50% tariff on Canadian cars, steel in January. 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. He said the countertariffs will focus on steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, totaling nearly $20 billion worth of annual imports from the United States. (The Finance Ministry published the list of products here.) "Canada's countertariffs are designed primarily to provide protection for Canadian industry impacted by U.S. tariffs and allow them to compete against U.S. products in the Canadian market," Champagne said. While Trump has long argued that tariffs are necessary to defend American workers and restore fair trade, critics say the pressure campaign could backfire if Canada retaliates against U.S. agricultural, energy or industrial exports.
He said the countertariffs will focus on steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, totaling nearly $20 billion worth of annual imports from the United States. (The Finance Ministry published the list of products here.) "Canada's countertariffs are designed primarily to provide protection for Canadian industry impacted by U.S. tariffs and allow them to compete against U.S. products in the Canadian market," Champagne said.
What's confirmed
- Canadian Finance Minister François-Philippe Champagne said the countermeasures will match U.S. tariffs "dollar for dollar, rate for rate," with tariffs of 15%, 25% and 50% on a range of exports from the U.S.,…
- "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.
- Canadian Finance Minister François-Philippe Champagne said the countermeasures will match U.S.
- He said the countertariffs will focus on steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, totaling nearly $20 billion worth of annual imports from the United States.
What's still developing
- Further details were still being reported.