Canada introduces retaliatory tariffs of up to 50% on American goods

Starting September 8, Canada is introducing retaliatory tariffs of 15%, 25%, and 50% on a range of American goods with a total value of about $20 billion.

According to a statement from Canada's Department of Finance, the new tariffs will affect automobiles and motorcycles, household appliances, agricultural equipment, electrical devices, paper, and cardboard. Tariffs on steel, aluminum, and products made from them will be increased from 25% to 50%.

At the same time, Ottawa announced the allocation of $5.4 billion to support workers and businesses affected by American trade restrictions. The funds will be directed, in particular, to unemployment assistance programs and business lending.

Canada's decision came in response to the tariffs imposed by the United States. Earlier, President Donald Trump set 50 percent tariffs on a number of Canadian goods. Attempts by the two countries to agree on a new trade deal have so far produced no results.

Canadian Prime Minister Mark Carney previously stated that Ottawa intends to respond to Washington's actions with mirror measures.