Canada announces retaliatory tariffs on U.S. goods
On the 12th, the Canadian government announced that it would retaliate against the US steel and aluminum tariffs by imposing a 25% counter-tariff on US goods totaling 29.8 billion Canadian dollars (1 Canadian dollar is about 0.69 US dollars). Canadian Finance Minister LeBlanc, Foreign Minister Joly and Minister of Innovation, Science and Industry Champagne jointly held a press conference to announce the counter-tariff plan in response to the US move to impose a 25% tariff on all imported steel and aluminum on the same day. The US goods involved in this counter-tariff include steel and aluminum products, computers, sports equipment, etc. The US’s 25% tariff on Canadian and Mexican products took effect on the 4th of this month. In response, Canada has imposed a 25% tariff on US products worth 30 billion Canadian dollars, involving poultry, meat, dairy products, wheat and other foods.
