Canada Imposes Tariffs on US Goods Amid Trade Stalemate

On Tuesday, Canada implemented retaliatory tariffs on a wide range of American goods, affecting nearly C$28 billion (approximately $20 billion) worth of products at rates of up to 50%. Prime Minister Mark Carney described these counter-tariffs as "dollar-for-dollar" measures, which include hundreds of items such as steel, furniture, and cotton T-shirts.

Initially, fresh fish and lobster were included but were later removed due to pushback from Canada's seafood industry. US Trade Representative Jamieson Greer stated that trade talks collapsed because Canada rejected what the US considered a fair offer.

He warned that further Canadian retaliation could lead to the US banning imports of certain Canadian goods. The US has already imposed a 25% tariff on Canadian cars and trucks, along with levies on steel, aluminum, and lumber.

Economists have cautioned that these new tariffs will likely increase prices for Canadian consumers. The Canadian Chamber of Commerce urged the government to avoid escalating the trade dispute.