Market Flux Event
Canada Retaliates Against Trump With Up to 50% Tariffs on $20 Billion of US Goods
Canada announced retaliatory tariffs on roughly $20 billion worth of American imports on Tuesday, matching dollar for dollar the 50% duties President Donald Trump imposed over the weekend following the collapse of trade negotiations. The new Canadian measures cover more than 700 US products, with levies ranging from 15% to 50%, and include steel, dairy, appliances, farm equipment, seafood, clothing, cosmetics, smartphones, and furniture. Steel tariffs were specifically doubled to 50% from a prior 25% rate.
The announcement came after Canadian trade negotiators departed the United States last week without reaching a deal to prevent Trump's tariffs from taking effect, with Trump's duties targeting Canadian goods including wine, cement, and hockey sticks. Finance Minister Francois-Philippe Champagne described the situation as an unprecedented challenge, while Prime Minister Mark Carney accused Washington of attempting to subordinate Canada and destroy its major industries. Ottawa also unveiled financial support measures for Canadian businesses and workers affected by the escalating trade war.
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Sources
- ReutersCanada announces response to new US tariffs
- DeItaone*CANADA PUTS 15% TO 50% TARIFFS ON ABOUT $20B OF US PRODUCTS
- BloombergCarney Matches Trump Tariffs With 50% Tax on US Furniture, Steel
- Zerohedge*CANADA PUTS 15% TO 50% TARIFFS ON ABOUT $20B OF US PRODUCTS *CANADA DOUBLES TARIFFS ON US STEEL PRODUCTS TO 50% FROM 25%
- WallstengineCANADA HIKES TARIFFS ON ~$20B OF U.S. GOODS, DOUBLES STEEL TARIFFS TO 50%
- CNBCCanada unveils retaliatory tariffs on about $20B of U.S. goods
- APBREAKING: Canada will impose retaliatory tariffs on more than 700 U.S. goods, including steel and appliances, as the trade war escalates.
- news.sky.comCanada announces retaliatory tariffs - as trade war with US heats up
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- BNNBloomberg#BREAKING : Canada outlines U.S. counter-tariffs on products like makeup, smartphones, changes to EI
- AJENewsBREAKING: Canada has announced counter-tariffs on US goods ranging from 15% to 50%, as the trade war between the two countries intensifies. More on
- MarketsdayCanada has hit back at the US with retaliatory tariffs on around $20 billion worth of American goods, including steel, dairy products, appliances, farm equipment, seafood, clothing, cosmetics and toilet paper. Some products will face duties as high as 50%. The move comes after the Trump administration imposed 50% tariffs on Canadian goods following the collapse of trade negotiations. Canada’s Finance Minister François-Philippe Champagne called it an “unprecedented challenge”, while PM Mark Carney accused Washington of trying to subordinate Canada and “destroy our major industries”. #Canada #US #DonaldTrump #TrumpTariffs #TradeWar #USCanada
- CointelegraphBIG: Canada announces 50% retaliatory tariffs on $20B of U.S. imports. “Canada will match the U.S. tariffs, dollar for dollar, rate for rate.”
- Unusual_WhalesBREAKING: Canada to impose retaliatory tariffs of up to 50% on $20 billion of U.S. goods including steel, appliances and dairy products
- Cablefxmacro*CANADA ANNOUNCES COUNTER TARIFFS ON THE U.S. COVERING $20 BLN OF PRODUCTS