Trump's 50% tariffs on Canadian goods take effect after talks fail

President Trump's 50% tariffs on Canadian imports took effect over the weekend after trade negotiations collapsed, affecting roughly $20 billion in annual goods. Canada has promised "dollar for dollar" retaliatory measures starting Sept. 8. The new levies cover products including wine, cement, honey, agricultural goods, clothing, and jewelry, and apply to some items previously protected under the USMCA trade pact. Trump invoked Section 338 of the Tariff Act of 1930, a never-before-used law requiring no investigation. Experts warn the tariffs will raise costs for businesses and consumers, potentially increasing inflation. Canada's Prime Minister Mark Carney accused Washington of using "economic integration as a weapon," while Trump's negotiator pledged additional measures in response to Canada's retaliation.