Canada has announced retaliatory tariffs on $20 billion (€17.14 billion) worth of US imports a day after US President Donald Trump said he would raise duties on Canadian cars, in the latest salvo of the escalating trade war between the two neighbours.
Finance minister François-Philippe Champagne on Tuesday issued a 99-page list of hundreds of US goods that will face increased levies in Canada after September 8th, including steel, dairy products and agricultural equipment.
“When the US asked too much and offered too little, we chose to stand up for Canadians,” said Champagne, referring to the trade talks that collapsed on Friday.
Canada will impose counter-tariffs of 15, 25 or 50 per cent on the products, matching the rates applied to the same categories of Canadian exports by Washington.
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“Our dollar-for-dollar, rate-for-rate counter-tariffs as well as a multi-billion dollar support package will protect workers, farmers, families, and businesses as we build a stronger, more resilient, and more diversified Canadian economy,” Champagne said.
Trump launched tariffs targeting $20 billion worth of Canadian goods that went into effect on Saturday after prime minister Mark Carney suspended trade talks with the US late the previous night.
On Monday, the US president increased tariffs on Canadian cars and automotive parts. - Copyright The Financial Times Limited 2026
