Canada will match the United States dollar for dollar and product by product with retaliatory tariffs, the federal minister of finance announced Tuesday morning.
The measures are “proportionate, targeted and strategic,” François-Philippe Champagne said in a news conference at an Ottawa roofing business.
WHY IT MATTERS: Some Canadian farmers, such as beekeepers, find themselves hit with massive U.S. tariffs, while agricultural sectors not directly implicated may feel knock-on effects like machinery costs.
On Saturday, the U.S. imposed 50 per cent tariffs on $27.6 billion of Canadian goods, including dairy, honey, alcohol and wool and wool products, after the two countries failed to reach a trade deal after days of negotiations.
Starting Sept. 8, Canada will levy counter-tariffs of 15, 20 and 50 per cent on products drawn from those targetted by U.S. Section 338 and Section 232 tariffs.
The duties cover $27.6 billion of American goods in sectors such as dairy, agriculture equipment, steel, pulp and paper and those that are “most impacted by U.S. tariffs,” a federal news release said.
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