Aug. 25 at 4:29 PM
$EWC $62.46 +0.34
Canada will imposes CAD 27.6 bln in retaliatory tariffs between 15-50% on several products steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics; effective September 8 (62.44 +0.32)
"Today, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, the Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, the Honourable Mélanie Joly, the Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario, the Honourable Evan Solomon, and the Minister of Jobs and Families and Minister responsible for the Federal Economic Development Agency for Northern Ontario, the Honourable Patty Hajdu, announced measures to protect and support Canadian workers and businesses during this period of uncertainty and volatility.
Following the U.S. decision to impose a 50 per cent tariff on
$27.6 billion of Canadian goods effective August 22, Minister Champagne confirmed today that Canada will match the new U.S. tariffs dollar for dollar, rate for rate, with additional Canadian tariffs on U.S. goods. This focused response will protect Canadian workers, farmers, fishers, families, and businesses, defend industries harmed by unjustified U.S. tariffs, and help Canadian producers compete with U.S. products in the Canadian market.
Effective September 8, Canada will impose counter-tariffs of 15, 25 and 50 per cent on products drawn from those targeted by U.S. Section 338 and Section 232 tariffs, with the rate for each product matching the corresponding U.S. rate.
Canada's counter tariffs will apply to products covering
$27.6 billion in imports from the U.S. and will focus on sectors such as steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, that are most impacted by U.S. tariffs.
In addition, to support Canadian workers and businesses impacted by U.S. tariffs, the government is also introducing a
$7.5 billion package of new and enhanced measures that deliver fast, simple and agile supports to Canadian workers and businesses, building on the nearly
$25 billion in supports the government has provided since the implementation of the U.S. unjustified tariffs."