Canada Hits Back with C$27.6 Billion in Counter-Tariffs on US Goods

At midnight on September 8, Canada's Department of Finance began applying counter-tariffs to US goods worth C$27.6 billion, matching the value of US tariffs imposed under Section 232 duties.

The measures affect up to 50% of certain imports, including steel and aluminum products, dairy items, and machinery.

Prime Minister Mark Carney announced the retaliation on August 22, but the government's product schedule was updated on August 26 to reflect a higher tariff value.

The Canadian dollar is already feeling the impact, trading at its weakest level since August 19 as markets assess the tariffs and their effects on import costs and trade uncertainty.