Canadian officials announced on Tuesday that, on September 8, Ottawa will impose new tariffs on more than 700 products imported from the United States. The rates will range from 15% to 50%.
Të lidhura
None found
The strongest measure will target American steel and aluminum, for which tariffs will double to 50%. This is the same rate that the US has applied to steel and aluminum from Canada.
The Canadian government says the measures are intended to protect the domestic manufacturing sector from the consequences of US trade policies.
Canada’s Finance Minister, François-Philippe Champagne, said at a press conference that the latest US tariffs on Canadian products would directly affect workers, companies and communities across the country.
“Canada must respond, and today we are doing so in a proportionate, targeted and strategic manner,” Champagne said.
In addition to metals, the list of products affected by the Canadian tariffs includes paper products, construction materials, household appliances and agricultural products, including dairy and seafood.
These retaliatory measures are only one of the ways Canada could respond if the trade conflict with the United States continues to escalate.
US trade data show that the tariffs recently imposed by the US affect around 5% of the goods it imported from Canada last year. By contrast, Ottawa’s tariffs cover around 6% of the goods exported from the US to Canada.
Canada is the second-largest destination for US exports and represents an important market for many of the products that will be hit by the new tariffs.
Last year, Canada was the main market for US exports of household appliances, with purchases worth more than $1 billion. Most of these products will now face a 25% tariff.
To help Canadian businesses affected by the tariffs, the country’s authorities also announced a financial package worth 7.5 billion Canadian dollars, equivalent to around 5.4 billion US dollars.
American companies risk facing a decline in demand in the Canadian market because of higher costs. As a result, some of them may cut working hours or even reduce the number of jobs.
US President Donald Trump has suggested that the conflict with Canada could expand further.
On Monday, Trump warned that from January 1 he could double tariffs on Canadian vehicles and auto parts to 50%.
