Canada Slaps $28 Billion in Tariffs on US Goods Amid Trade War Escalation

Canada's Prime Minister Mark Carney announced that his country will impose retaliatory tariffs on US goods, worth nearly $28bn. The tariffs range from 15% to 50% and will apply to over 300 items, including steel, aluminum, furniture, and cotton T-shirts.

The move comes after the collapse of trade talks between Canada and the US in late August. Carney emphasized that diversifying trade relationships is essential for Canada's economy and added that 'the pivot will come at a cost.'

US Trade Representative Jamieson Greer stated that Washington may consider imposing tit-for-tat tariffs on Canada as early as Tuesday.