Canada Hits Back with $20 Billion in Retaliatory Tariffs

Canada has imposed $20 billion in retaliatory tariffs on the United States in response to President Donald Trump's demand that Canadian leaders 'fall in line'. The tariffs, which take effect September 8, include duties of 15 percent, 25 percent, and 50 percent on about 700 products. Finance Minister François-Philippe Champagne said the move will protect workers, farmers, families, and businesses.

The retaliatory measures follow Trump's threat to impose new 50 percent tariffs on Canadian vehicles, auto parts, and steel after trade negotiations collapsed late Friday. Prime Minister Mark Carney accused Washington of seeking to weaken Canada's sovereignty and economy.

Canada has also unveiled a $7.5 billion aid package to cushion the economic impact, offering support for businesses, additional financing options, and assistance for workers at risk of losing their jobs due to the escalating trade dispute.