Canada will impose new tariffs on American goods in response to U.S. tariffs
Kyiv • UNN
Starting September 8, Canada will impose tariffs of 15%, 25%, and 50% on American goods. Ottawa will also allocate $7.5 billion to support the economy.
Canada will introduce new counter-tariffs on US goods worth $27.6 billion starting September 8 in response to US tariffs. This was reported by the Canadian Department of Finance, UNN writes.
Details
Canadian tariffs will be set at 15%, 25%, and 50% and will match US tariffs on similar goods. The restrictions will cover, in particular, steel, dairy products, household appliances, agricultural equipment, pulp and paper products, and electronics.
The Canadian government said that Washington had put forward new conditions during the negotiations that did not serve Canada's interests. As a result, Ottawa suspended talks on a trade agreement.
Our counter-tariffs are “dollar for dollar, rate for rate,” and a multibillion-dollar support package will protect workers, farmers, families, and businesses
Ottawa will allocate $7.5 billion to support the economy
Canada also announced a $7.5 billion aid package for workers and businesses. The funds will be directed toward supporting small and medium-sized businesses, maintaining corporate liquidity, diversifying production, retraining workers, and preserving jobs.
The government said it would continue assessing the impact of US tariffs and, if necessary, expand support programs for the sectors suffering the greatest losses.