Canada to Hit Back With Tariffs on US Steel and Dairy Starting September 8

Canada will impose retaliatory tariffs on US steel and dairy products starting September 8, Prime Minister Mark Carney announced Monday, following new 50% US surtaxes on Canadian exports that took effect Saturday. Carney stated Canada would not accept a trade deal "at any price" or "on any timeline," saying the US "demanded too much and offered too little." The retaliatory measures match the value of US tariffs "to the dollar." The US surtaxes affect 5.5% of Canadian exports and target products normally protected under the USMCA free trade agreement, escalating tensions between the neighbors since Donald Trump returned to power in January 2025.