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

Canada announced retaliatory tariffs of up to 50% on approximately 700 US products, valued at US$20 billion, effective September 8. The measures respond to new US tariffs on Canadian goods. The Canadian government will apply rates of 15%, 25%, and 50% targeting steel, aluminum, furniture, clothing, cheese, appliances, seafood, electronics, and tools. It also unveiled a C$7.5 billion support package for affected workers and businesses. The escalation follows failed negotiations and new US tariffs announced Monday, including 50% on cars, trucks, and steel effective January 1, 2027. Canada is the top buyer of goods from 26 US states.