U.S. tariffs on 550 Canadian goods raise prices for honey, makeup, and hockey sticks

The United States has imposed a 50% tariff on over 550 Canadian products, including honey, makeup, and hockey sticks, effective Saturday. The measure targets approximately $20 billion in goods, about 5% of Canada's annual exports to the U.S. The tariffs, enacted under a never-before-used 1930 law, are expected to raise consumer prices as importers pass on costs. Canada's Prime Minister Mark Carney has promised dollar-for-dollar retaliation on U.S. goods starting September 8, targeting steel, dairy, and electronics. Escalation risks remain high, with Ontario threatening to cut electricity exports and Trump proposing further 50% tariffs on Canadian autos and steel by January 2027. The dispute stems from Trump's claims of Canadian discrimination against U.S. businesses.