Home›Forex›Central Banks›Canada to impose dollar-for-dollar retaliatory tariffs…

Canada to impose dollar-for-dollar retaliatory tariffs up to 50% on US goods

The measures take effect September 8, with duties set at 15%, 25%, and 50% across about 700 products totaling $20bn in US exports.

Reported · Written up by our desk · Central Banks

Canada has said it will impose retaliatory, dollar-for-dollar tariffs on $20bn worth of US goods, matching US tariff levels it said it will be targeted with, according to FXStreet and reporting cited from The Guardian.

The Canadian government said the duties will take effect September 8 and will apply across roughly 700 products, with tariff rates of 15%, 25%, and 50% depending on the category.

Canadian Finance Minister François-Philippe Champagne said the new measure is an unprecedented challenge for Canada, but that Canada will respond, the outlet reported.

FXStreet also noted that on Monday, US President Donald Trump said he would increase tariffs on Canada-made cars and auto parts in January, as tariffs are used as a protectionist tool through customs duties on imported merchandise.

More like this

Sources