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Canada strikes back at Trump with retaliatory tariffs as US trade war escalates
Canada on Tuesday announced retaliatory tariffs on C$27.6 billion ($19.94 billion) worth of US goods, including steel and dairy products, in a dollar-for-dollar response to President Donald Trump's punitive tariffs on Canadian products. Ottawa also announced a C$7.5 billion aid package for impacted Canadian businesses and workers as the trade war between…
GlobeSignal-AIhigh certainty
- Why it matters
- Canadian tariffs on US steel, dairy and other goods will increase costs for American exporters and producers of those items. Canada also announced aid for its own affected businesses, signaling escalation in the trade dispute.
- Most affected
- US steel and dairy producers and exporters — Face new Canadian tariffs on shipments to the Canadian market.
Canadian businesses and workers in tariffed sectors — Eligible for C$7.5 billion government aid package. - Likely next
- Whether Trump responds with further US tariffs or whether negotiations resume between the two countries.