Canada will impose tariffs on US goods starting September 8 after Washington levied 50% duties on Canadian products.
Canada will begin imposing retaliatory tariffs on US goods on September 8, Prime Minister Mark Carney announced. The move follows Washington’s decision to apply 50% tariffs on certain Canadian products after trade negotiations collapsed on Friday.
Earlier this week, Canada declined to finalize a trade deal under revised US terms, which Carney called “unfair and uneconomic.” The USD/CAD pair rose 0.22% to 1.3787 following the announcement, reflecting market reaction to escalating trade tensions.
Tariffs are designed to protect domestic industries by increasing the cost of imported goods, often used as a tool in trade disputes.