Canada tariffs on a range of U.S. imports will rise to as much as 50% as Ottawa steps up its response to new American trade measures. Prime Minister Mark Carney said the measures will cover about $20 billion of U.S. goods and include higher duties on steel and aluminum.
The new tariffs will apply to roughly 700 products from September 8, with rates set at 15%, 25% or 50%. The targeted goods represent about 6% of Canada’s imports from the United States last year.
Canada expands retaliatory tariffs
Canada will increase tariffs on U.S. steel products from 25% to 50%. Aluminum will also face a 50% tariff, while additional products including furniture, apparel, video-game consoles, smartphones and other electronics will be subject to 50% duties.
Carney said the measures will approximately match the value of tariffs announced by the United States under a rarely used provision of the 1930 Tariff Act.
Canada’s finance minister said the U.S. tariffs would have a tangible impact on the Canadian economy and that Ottawa needed to respond. The government has also announced support measures for businesses and workers affected by the escalation in trade restrictions.
Ottawa said the support package is worth C$7.5 billion and is intended to assist businesses and workers affected by the tariff measures.
The Canadian measures will therefore combine higher duties on selected U.S. imports with financial support for affected businesses and workers, as Ottawa responds to the latest escalation in trade restrictions.
