Canada retaliates with tariffs on $12.7B of US goods, matching recent US duties on Canadian imports dollar-for-dollar.
Canada will apply tariffs of 15%, 25%, and 50% on approximately 700 categories of US goods starting September 8. The move targets $12.7 billion worth of imports, mirroring the value of recent US tariffs on Canadian products.
The tariffs follow escalating trade tensions after the US imposed duties on Canadian steel, aluminum, and other goods earlier this year. Analysts note the measure is designed to be proportional but could strain bilateral trade relations further.
Rate markets have flagged potential inflationary pressures as a consequence, though immediate market reactions remain muted.