Canada hits back with tariffs on US goods
Canada announced counter-tariffs on US goods ranging from 15% to 50% Tuesday, escalating a trade war with its closest ally after President Donald Trump imposed 50% duties on Canadian products Saturday. The retaliation takes effect September 8. Ottawa's duties match US levels and target imports worth about C$27.6 billion, affecting industries like steel, dairy, and electronics. Canada also unveiled a C$7.5-billion aid package for impacted businesses and workers, with Finance Minister Francois-Philippe Champagne saying the nation stands united. Trump has threatened to double tariffs on Canadian autos to 50% next year, while Ontario Premier Doug Ford warned of electricity export surcharges. Trump also floated renaming Lake Ontario "Lake America," and the USMCA does not exempt Canadian products from the new duties.