Canada to announce retaliatory tariffs on US Tuesday

Canada is preparing to announce retaliatory tariffs against the United States on Tuesday, August 25, according to a source cited by the Associated Press. Prime Minister Mark Carney may declare the measures, having previously promised dollar-for-dollar responses. However, on Monday he suggested shifting to more targeted actions to protect Canadian workers and businesses. The move follows US President Donald Trump's announcement of 50% tariffs on Canadian vehicles, steel, and auto parts starting January 1, 2027. US tariffs on $20 billion in Canadian goods, including beer and cheese, took effect Saturday after talks failed.