Canada has announced it is countering Washingtons’ tariffs by imposing dollar-for-dollar counter-tariffs on more than 700 American goods amounting to CA$27.6 billion (US$19.9 billion).
The new tariffs announced by Canadian Finance Minister François-Philippe Champagne during an Aug. 25 press conference will come into force on Sept. 8, increasing costs for imported American items ranging from seafood to furniture.
Champagne also promised CA$7.5 billion in federal support for businesses affected by the tariffs.
“We will support our workers, our businesses, and our industry with whatever it takes for as long as it takes,” he said.
The announcement comes after trade talks between Ottawa and Washington collapsed on Aug. 21, with Washington imposing 50 percent tariffs on US$20 billion Canadian exports to the United States beginning on Aug. 22. The U.S. tariffs, affecting approximately 5 percent of Canadian exports to the United States, apply to a range of products including alcohol, dairy, honey, and hockey sticks….