Canada hits back with up to 50% tariffs on U.S. goods

Canada announced retaliatory tariffs of up to 50 percent on certain U.S. imports, escalating the trade conflict between the neighboring countries. Finance Minister François-Philippe Champagne said the counter-tariffs, effective September 8, will target U.S. goods worth 27.6 billion dollars, including steel, aluminum, appliances, agricultural equipment, pulp, paper, and electronics. The move follows failed trade talks and U.S. tariffs on 20 billion dollars of Canadian goods. U.S. President Donald Trump has threatened to raise auto and steel tariffs to 50 percent by January 2027. Canada, the second-largest U.S. trading partner, announced 7.5 billion dollars in support for affected industries.