Canada Strikes Back with Tariffs in Escalating Trade War with the US
Canada has launched tariffs on hundreds of US goods worth around $20 billion in response to Trump's escalating trade war. The move, taken under an executive action called an order in council, targets products including steel, aluminum, cheese, appliances, clothing, cosmetics, and farm equipment with rates of 15%, 25%, or 50%.
The tariffs are a dollar-for-dollar match to the US measures, covering about 6% of the $333.6 billion in American goods exported to Canada last year, according to RBC Economics. The research arm of the Royal Bank of Canada said the measures will likely not affect U.S. growth but could hit some businesses hard.
Canadian Prime Minister Mark Carney says the US demands could harm key Canadian industries and limit the country's independence, while Trump's threats have rallied public support for him in Canada.