Canada Slaps $20 Billion Tariff Package on US Amid Escalating Trade Dispute
Canada has unveiled a $20 billion retaliatory tariff package against the United States in response to President Donald Trump's latest trade demands. The tariffs, which take effect September 8, target about 700 US products with duties ranging from 15% to 50%. These include steel and aluminum, furniture, clothing, cheese, household appliances, selected seafood products, electronics, and tools.
The move is part of Ottawa's efforts to protect its economy and sovereignty amidst the escalating trade dispute. Canada's Finance Minister François-Philippe Champagne said in a statement that the government's dollar-for-dollar counter-tariffs alongside a $7.5 billion aid package will shield workers, farmers, families, and businesses from the impact.
The US has imposed 50% tariffs on Canadian vehicles, auto parts, and steel after trade negotiations collapsed late Friday. Canada's Prime Minister Mark Carney accused Washington of seeking to weaken his country's economy and sovereignty, while Trump mocked Canada's leadership and floated the idea of renaming Lake Ontario 'Lake America.'