Canada Slaps $27.6 Billion Tariffs on US Goods in Trade Spat

Canada has announced plans to impose new tariffs on US goods worth $27.6 billion starting September 8 in response to US tariffs. The move is an attempt to counter US measures that Canada deems unfair.

The Canadian government will introduce tariffs ranging from 15% to 50%, mirroring the rates set by the US on similar goods. The restrictions will cover a range of products, including steel, dairy products, household appliances, agricultural equipment, pulp and paper products, and electronics.

Canada's Finance Department cited new conditions imposed by the US during negotiations that did not serve Canada's interests as a reason for suspending talks on a trade agreement. The government also allocated $7.5 billion to support the economy through a multibillion-dollar aid package.