Canada hits back with 50% tariffs on U.S. goods

Canada announced retaliatory tariffs of up to 50 percent on U.S. imports worth 27.6 billion dollars, effective September 8, escalating the trade conflict between the neighboring countries. Finance Minister François-Philippe Champagne said the countermeasures target steel, aluminum, household appliances, agricultural equipment, pulp, paper, and electronics. The move follows U.S. tariffs of 50 percent on 20 billion dollars of Canadian goods, including hockey sticks, furniture, honey, and wine. President Trump has threatened to raise auto, truck, parts, and steel tariffs to 50 percent by January 2027. Canada remains the second-largest U.S. trading partner, with 85 percent of its auto exports going south, and is the top foreign crude oil supplier.