Canada Hits Back with $27.6 Billion Counter-Tariffs Amid Stalled Trade Talks

Canada has implemented its latest counter-tariffs on $27.6 billion worth of US imports, effective September 8th. The measures mirror those taken by the US, with tariff rates of 15%, 25%, and 50% applied to specific products.

The affected areas include steel and aluminum products, dairy, appliances, agricultural equipment, pulp and paper, and electronics. This move is in response to the stalled negotiations between Canada and the US on a new trade agreement.

Ottawa has also introduced a $7.5 billion package of support measures for workers and businesses affected by tariffs. This includes funding for regional tariff-response programs, a liquidity stream through the Business Development Bank of Canada, and additional funding through the Canada Strong Diversification Fund.