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Canada has announced C$27.6bn ($19.91bn) of counter-tariffs on U.S. imports in response to President Donald Trump’s latest trade measures, doubling existing duties on American steel and aluminum from 25% to 50% and introducing tariffs of between 15% and 50% on more than 700 other products, including fish, paper, cheese, furniture, clothing, appliances, and machinery. The measures, which take effect on 8 September, are intended to match the latest U.S. tariffs “dollar for dollar” and will cover goods representing around 7.3% of Canada’s total imports from the U.S. Ottawa has also unveiled C$7.5bn of additional support for workers and businesses affected by the escalating trade dispute, including C$1.5bn for small and medium-sized businesses, C$500m in loans, and a new C$2bn fund for companies developing “shovel-ready projects”, alongside C$3.5bn of expanded employment support. The retaliation follows the collapse of recent Canada-U.S. trade negotiations, while Mr Trump has threatened further tariffs on Canadian autos and steel from January.
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