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U.S. tariffs begin, Canada pledges dollar-for-dollar retaliation

Canada plans new tariffs starting September 8, targeting a wide range of U.S. goods including steel, dairy, and electronics.

Reported · Written up by our desk · Major Pairs

U.S. tariffs of 50% on about 5% of Canadian exports took effect on Saturday, with Canadian officials signaling they will retaliate “dollar for dollar,” Action Forex said.

Canadian Prime Minister Mark Carney stated the new Canadian tariffs will be implemented starting September 8 and are intended to match the U.S. actions on a like-for-like basis.

The Canadian tariff list includes American steel, dairy, appliances, agricultural equipment, pulp and paper, electronics, and other products, Action Forex noted.

The developments are tied to currency and trading sentiment, as the policy shift raises the prospect of heightened trade friction between the two countries, Action Forex added.

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