Canada hits back with tariffs up to 50% on US goods

Canada announced retaliatory tariffs of up to 50% on US products, responding to a failed bilateral agreement and a 50% US surtax on Canadian goods. The measures take effect September 8. The tariffs will target 700 US products with rates of 15%, 25%, and 50%, covering an estimated 7.3% of US imports. Canada also unveiled a 7.5 billion Canadian dollar support package for affected businesses and workers. Higher rates apply to strategic sectors like steel, aluminum, furniture, and clothing, while 25% covers cheese and appliances, and 15% targets electronics. Finance Minister Francois-Philippe Champagne called it an unprecedented challenge, with Prime Minister Mark Carney vowing to fight for Canadian workers.