Retaliatory duties target 700 products after Trump threatens higher auto tariffs on Canadian imports in January.
Canada will impose retaliatory tariffs of up to 50% on $20bn of US goods effective September 8, matching Trump administration duties dollar-for-dollar. The measures cover 700 products with rates of 15%, 25%, and 50%.
The move follows President Trump’s announcement of planned January tariffs on Canadian-made cars and auto parts. Canada’s finance minister called the US actions an unprecedented challenge but affirmed the country’s response.
The USD/CAD pair rose 0.03% to 1.3842 following the announcement.