Canada to Impose Retaliatory Tariffs up to 50% on U.S. Goods from September 8

Canada announced it will impose retaliatory tariffs of up to 50% on certain U.S. imports starting September 8, responding to U.S. tariffs. The measures target goods worth 27.6 billion Canadian dollars. The tariffs cover approximately 700 U.S. products with rates of 15%, 25%, and 50%. Steel and aluminum face the highest rate, while cheese and appliances are set at 25%. Finance Minister Champagne stated Canada chose to stand up for its citizens. The U.S. had imposed 50% tariffs on Canadian alcohol and dairy on August 22, and announced plans to raise auto tariffs to 50% starting January 1. The move escalates trade tensions between the two countries.