Canada Unleashes Counter-Tariffs in Escalating Trade Spat with US
The trade dispute between Canada and the United States has escalated further as Ottawa announced retaliatory tariffs on US goods in response to new 50-percent tariffs imposed by Washington.
New Canadian tariffs, set to take effect on September 8, will target the US steel and dairy industries. The move follows the collapse of last-ditch negotiations between the two countries on Friday in Washington, DC, which put into force new US tariffs affecting about $20 billion worth of goods, or 5.5 percent of Canada's exports to the US.
Canadian Prime Minister Mark Carney said Ottawa was responding firmly to what he called a 'bad deal', while also acknowledging that the US market is crucial for Canada's economy. He added, 'You're at war when you get attacked. We got attacked.'