The trade war between Canada and the U.S. continues to escalate.
Finance Minister François-Philippe Champagne announced on Aug. 25 that as of Sept. 8, Canada will impose tariffs ranging from 15 to 50 per cent on $27.6 billion of U.S. goods.
These tariffs are in response to American tariffs of 50 per cent which came into effect on Aug. 22 following a breakdown in negotiations between the two countries.
“The terms proposed by the U.S. administration were uneconomic, unfair, and ultimately, unacceptable,” Champagne said Tuesday morning. “They asked too much of Canada and offered too little in return.”
Ag products are included in Canada’s tariff list.
Examples and the tariff rates include:
- Cutter bars for tractor mounting – 15%
- Dairy products – 50%
- Mixes and doughs for preparation of bakers’ wares – 50%
- Honey – 50%
- Fish products – 50%