Canada announces counter-tariffs in response to US 50% duties on Canadian goods, escalating cross-border trade tensions.
Canada introduced retaliatory tariffs after the US imposed 50% duties on Canadian products over the weekend. The move marks a sharp escalation in trade hostilities between the two nations, raising concerns over supply chain disruptions and economic friction.
The latest tariffs follow a series of trade disputes, with prior rounds of duties targeting steel, aluminum, and agricultural goods. Analysts warn the measures could weigh on bilateral trade, which exceeds USD 700 billion annually.
Markets showed muted reaction initially, though investors remain cautious amid broader uncertainty over trade policies and their impact on North American economic growth.