Canada Imposes Retaliatory Tariffs on $20 Billion of US Imports

Canada on Tuesday imposed retaliatory tariffs on about $20 billion of U.S. annual imports and announced assistance for businesses and workers, equivalent to the latest U.S. tariffs of 50 percent. The Canadian government said in a statement that retaliatory tariffs on U.S. goods would go into effect on September 8 and tariffs of 15 percent, 25 percent, and 50 percent would be imposed on about 700 products. Earlier, U.S. President Donald Trump's new 50 percent tariffs on $20 billion of Canadian imports of cheese went into effect on Saturday, after negotiations between the two countries failed. These new retaliatory tariffs mark a new low in relations between the long-standing allies. Canadian Finance Minister Francois-Philippe Champagne said, "Our dollar-for-dollar, tariff-for-dollar retaliatory tariffs and a multi-billion-dollar support package will protect workers, farmers, families, and businesses." The U.S. White House and U.S. Trade Representative did not immediately respond to a request for comment. A Canadian government official told Canadian journalists that the tariffs on Canadian furniture, clothing, and electronics were set at 50 percent.