Canada hits back with $27.6B in counter-tariffs on U.S. goods

Canada announced counter-tariffs on $27.6 billion in U.S. goods, matching Washington's 50% rate dollar for dollar on over 700 products, effective Sept. 8. Finance Minister François-Philippe Champagne said rates vary at 15%, 25%, and 50%, matching U.S. levels. Steel, aluminum, furniture, and clothing face the top rate; appliances, dairy, and seafood face 25%. Existing auto tariffs remain. Ottawa suspended trade talks, citing unacceptable U.S. terms, and unveiled a $7.5 billion support package. U.S. Trade Representative Jamieson Greer disputed Canada's characterization, saying Washington made meaningful concessions. The 50% U.S. tariffs, under a provision unused since 1949, took effect Saturday on roughly $20 billion in Canadian goods.