Canada Slaps US with $20 Billion in Tariffs Amid Trade Tensions

Canada is retaliating against new U.S. tariffs with $20 billion in counter-tariffs, starting September 8.

The Canadian Ministry of Finance announced a statement on August 25 that it would impose additional tariffs of 15%, 25%, and 50% on U.S. goods worth $19.9 billion (27.6 billion CAD).

These measures are in response to the U.S. decision to impose a 50% tariff on $27.6 billion worth of Canadian goods starting August 22.

The support package for businesses and workers announced by the government totals 7.5 billion Canadian dollars ($5.4 billion), which will supplement nearly 25 billion Canadian dollars ($18 billion) in aid already provided following the imposition of U.S. tariffs.