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Canada announced retaliatory tariffs on many U.S. goods on Tuesday as the two countries fell deeper into a trade fight.
Canadian Finance Minister François-Philippe Champagne said the countermeasures will match U.S. tariffs “dollar for dollar, rate for rate,” with tariffs of 15%, 25% and 50% on a range of exports from the U.S., effective Sept. 8.
He said the countertariffs will focus on steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, totaling nearly $20 billion worth of U.S. annual imports. (The Finance Ministry published the list of products here.)
The move comes after President Trump imposed 50% tariffs on many Canadian goods and threatened more after trade talks broke down on Friday.
“When the United States asked too much and offered too little, we chose to stand up for Canadians,” Champagne said.
“Canada’s countertariffs are designed primarily to provide protection for Canadian industry impacted by U.S. tariffs and allow them to compete against U.S. products in the Canadian market,” he said. “It’s all about fairness. It’s all about level playing field. It’s all about supporting Canadian workers and Canadian businesses.”
Leading up to Canada’s announcement, President Trump has taken to social media to vent frustration with the country. He accused Canada of “ripping off” the U.S. for decades. He insulted Canadian Prime Minister Mark Carney by calling him “Governor Carney.” And he said the U.S. was considering changing the name of Lake Ontario to “Lake America.”
At a news conference on Saturday, Carney likened the U.S. trade actions against Canada to a conflict. “You’re at war when you get attacked. We got attacked,” he said.
This is a developing story that will be updated.
