Canada has introduced new counter-tariffs ranging from 15 to 50 percent on selected US goods, intensifying the trade conflict between the two neighboring nations. These measures will be implemented starting September 8, following the recent US tariffs on Canadian exports.
The counter-tariffs will impact a variety of American products, including steel, aluminum, dairy, appliances, electronics, fish, and industrial equipment. Canadian authorities stated that US steel and aluminum, which already face a 25 percent duty, will now incur tariffs of 50 percent, while other items will see tariffs of either 25 or 15 percent.
Additionally, Ottawa has unveiled a $5.4 billion aid package aimed at supporting Canadian companies and workers affected by this trade dispute. Finance Minister François-Philippe Champagne emphasized that Canada plans to respond in a manner that is proportionate, targeted, and strategic.
These recent actions follow unsuccessful trade negotiations between Ottawa and Washington. Furthermore, US President Donald Trump has suggested the possibility of increasing tariffs on Canadian automobiles, heightening concerns about further retaliation measures.
Canadian officials have cautioned that Ottawa may implement additional measures if Washington elevates the dispute. The escalating tensions could have major repercussions for both economies since the United States is Canada’s largest trading partner, and Canada is among America’s significant export destinations.
With further actions threatened by both sides, there is growing concern that the conflict might escalate into a broader US-Canada trade war.
AFP
