Canada Hits Back with Tariffs in Escalating Trade War

Canada is retaliating against the US tariffs by imposing its own tariffs on hundreds of American-made products. The Canadian government's move aims to level the playing field, according to Finance Minister François-Philippe Champagne.

The new tariffs will target goods such as steel, dairy, appliances, farm equipment, paper, and electronics, mirroring the 50% tariffs imposed by President Donald Trump on $20 billion worth of Canadian goods. The Canadian Department of Finance announced that the tariffs will range from 15 to 50% on 27.6 billion Canadian dollars worth of American-made products.

Canadian Minister of Finance and National Revenue François-Philippe Champagne said, 'It's all about fairness. It's all about (leveling the) playing field.'

The simultaneous rollout of a CA$7.5 billion support package for Canadian workers and businesses impacted by the new tariffs aims to mitigate the effects on consumers. This move comes after Trump took to social media to double down on his claim that Canada is 'ripping off' the United States.