Canada Slaps Retaliatory Tariffs on US in Escalating Trade War

Canada has announced retaliatory tariffs against the US in response to President Donald Trump's trade policies. The tariffs will target over 700 US-made products, including seafood, cheese, clothing, cosmetics, and toilet paper, with duties as high as 50%.

The move is part of Canada's efforts to protect its companies and reduce US imports. Canadian officials said the goal is not to raise revenue but to counter the effects of Trump's tariffs, which they claim have hurt Canadian workers and businesses.

Finance Minister François-Philippe Champagne called it a 'Team Canada moment' and said that maintaining economic sovereignty is non-negotiable. He added that the government will cushion the blow to its economy and consumers with a support package worth $7.5 billion CAD ($5.4 billion USD).