Canada to impose $20B in retaliatory tariffs on US goods

Canada announced Tuesday it will match US tariffs "dollar for dollar," imposing retaliatory taxes on approximately $20 billion USD worth of American imports, including steel, dairy products, and appliances, effective September 8. The new tariffs, ranging from 15 to 50 percent, will target over 700 products, extending beyond industrial goods to consumer items like seafood, cheese, clothing, cosmetics, and toilet paper. Canada also unveiled a $7.5 billion support package for affected workers and businesses. This escalation responds to the Trump administration's 50 percent tariffs on select Canadian products, following the collapse of trade negotiations. Finance Minister François-Philippe Champagne called it an "unprecedented challenge," while officials urged Canadians to buy domestic products as a "resistance movement."