The Canadian government on Tuesday retaliated against President Donald Trump’s latest wave of tariffs by raising rates on steel products and adding a swath of new duties on $20 billion worth of U.S. products exported to Canada.
\n\nThe new duties of between 15% and 50% will take effect on Sept. 8, the Canadian government said.
\n\nThese counter-tariffs “will focus on sectors such as steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, that are most impacted by U.S. tariffs,” Canada’s finance ministry said.
\n\n“We stand united in fighting for Canada,” said finance minister François-Philippe Champagne. “As the Prime Minister has said, we will support our workers, our businesses, and our industry with whatever it takes for as long as it takes.”
\n\nChampagne said Canada’s response was tailored to “match the American tariff on the same type of Canadian good.”
\n\n“Our existing counter-tariffs, including those on automobiles, will remain in place,” he added.
\n\nThe announcement came after the United States hit scores of Canadian products with new 50% tariffs that went into effect early Saturday. These levies followed weeks of trade negotiations that broke down, putting the longtime allies on unfamiliar footing.
\n\nPrime Minister Mark Carney said he pulled the…
Original source: https://www.nbcnews.com/sports