Canada announced retaliatory tariffs on hundreds of American products as high as 50 percent Tuesday, just days after the collapse of negotiations between the two countries.
Canadian Finance Minister François-Philippe Champagne said Canada will match the U.S.’s tariffs “dollar for dollar, rate for rate.” The tariffs would take effect September 8.
He said the 15 percent, 25 percent and 50 percent tariffs will be on $27.6 billion of imports from the U.S.
“For each product, our tariff will match the American tariff on the same type of Canadian good,” he said.
Arguably the biggest measure is Canada doubling its tariffs on U.S. steel and aluminum to 50 percent to match the 50 percent the U.S. put on Canadian steel and aluminum.
He said the countertariffs “are designed primarily to provide protection for Canadian industries impacted by the U.S. tariffs and allow them to compete against U.S. products in the Canadian market.”
Canada released a list of over 700 items that will be targeted with tariffs ranging from live fish, frozen fish, cheese, some apparel, carpets and metal products made of steel or aluminum, among others.
The U.S.’s 50 percent tariffs went into effect on Saturday across over $20 billion of Canadian imports after negotiations collapsed late Friday.
Trump threatened to impose 50 percent tariffs on a plethora of Canadian imports in response to “discriminatory” trade measures. The U.S. tariffs fall under Section 338 of the Tariff Act of 1930, the administration said when announcing them last month.