The Canadian government has announced that it will impose retaliatory tariffs of up to 50% on around 700 American products, after US President Donald Trump hit Canada with a round of tariffs and threatened further increases.
American steel and aluminum will be tariffed at 50%, according to a statement on the Canadian Finance Department’s website, while other goods – including dairy products, appliances, and farm equipment – will face tariffs of 25%. The measures will cover around $20 billion in US imports, and will come into effect on September 8, the statement added.
“Canada will match the United States’ tariffs dollar for dollar, rate for rate,” Finance Minister Francois-Philippe Champagne said at a press conference on Tuesday. The tariffs, he added “are designed primarily to provide protection for Canadian industry impacted by US tariffs.”
GR
FR
DE
ES
IT
RU
EU
Canada is reciprocating the latest tariffs imposed by the United States with up to 50% duties on CAD$27.6 billion (US$20 billion) worth of American imports, the Canadian Department of Finance said on Tuesday.
ReplyDelete"Effective September 8, Canada will impose counter-tariffs of 15, 25 and 50 per cent on products drawn from those targeted by U.S. Section 338 and Section 232 tariffs, with the rate for each product matching the corresponding U.S. rate," the department said in a news release. "Canada's counter tariffs will apply to products covering $27.6 billion in imports from the U.S. and will focus on sectors such as steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, that are most impacted by U.S. tariffs."