Canada Hits Back With Retaliatory Tariffs on U.S. Goods
Canada announced retaliatory tariffs Tuesday on over $20 billion in U.S. goods, matching Washington's weekend levies with duties up to 50%. The Canadian Finance Ministry said tariffs will hit U.S. steel, dairy, appliances, agricultural equipment, paper, and electronics starting September 8. Finance Minister François-Philippe Champagne called the response "proportionate, targeted, and strategic" after months of trade talks ended Friday without a deal. The U.S. imposed 50% tariffs Saturday on Canadian wine, cement, dairy, furniture, sports equipment, and clothing. President Trump pledged Monday to add 50% tariffs on Canadian vehicles and steel from January. Prime Minister Mark Carney rejected treating Canada as a U.S. subsidiary, while Trump proposed renaming Lake Ontario "American Lake," following his precedent of renaming the Gulf of Mexico.