Canada to impose matching tariffs on U.S. goods starting September 8

Canada announced tariffs of 15-50% on U.S. steel, farm machinery, and dairy products, effective September 8, retaliating against U.S. tariffs of the same scale. The Canadian government said the tariffs match U.S. rates and cover approximately $20 billion worth of goods, about 6% of U.S. exports to Canada. Steel and aluminum will face the 50% rate. Finance Minister Champagne stated the measures protect Canadian industries and ensure fair competition. The move follows the collapse of trade talks and the U.S. imposing 50% tariffs on August 22.