Canada Strikes Back With Tariffs on US

Canada struck back at the United States on Tuesday with retaliatory tariffs on about $20 billion worth of American goods, including steel, dairy products, appliances, and farm equipment, as the trade war between the once-friendly neighbors escalated sharply, per the AP. The Canadian move came after President Trump threatened to rename Lake Ontario as Lake America because of the rift.

• The new tariffs extended well beyond industrial goods, hitting everyday purchases such as seafood, cheese, clothing, cosmetics, and toilet paper, with some facing duties as high as 50%.
• The tariffs will take effect Sept. 8 at rates of 15%, 25%, and 50%, with Canada matching the corresponding US tariff rate on more than 700 products such as pulp and paper and electronics. The tariffs on many American products would double from 25% to 50%.

• Goods facing 50% tariffs include some steel and aluminum products, furniture, and clothing. Appliances, dairy products including cheese, fish, and seafood, and certain steel and aluminum derivatives will face 25% tariffs. Existing Canadian counter-tariffs on US autos will remain in place.
• Canada also announced a support package for workers and businesses affected by the dispute worth $7.5 billion in Canadian dollars ($5.4 billion in US dollars).