Canada to Impose Counter-Tariffs on US Imports Starting Tuesday
Canada is set to introduce retaliatory tariffs on American imports starting Tuesday. This action escalates the ongoing trade dispute between the two neighboring countries.
The Canadian Ministry of Finance confirmed that these counter-tariffs on US imports will take effect in the early hours of Tuesday, September 8th, at 00:01 local time. This measure follows the recent imposition of tariffs by the United States on Canadian goods.
According to previous statements from Canada, the targeted products encompass a range of items from the steel and aluminum sectors, household appliances, agricultural equipment, pulp and paper, and electronics. These tariffs could be as high as 50% on imports from the United States, affecting goods valued at approximately $27.6 billion.
Trade negotiations between the US and Canada recently failed to yield an agreement. Following this breakdown, the US imposed 50% tariffs in August on Canadian goods worth around $20 billion, including items like hockey sticks, furniture, honey, and wine. Canada's decision to retaliate with its own tariffs marks a significant escalation in this trade conflict.
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