Canada is imposing retaliatory tariffs of up to 50% on nearly $20bn of US products, with Prime Minister Mark Carney warning the trade war 'will come at a cost'.
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Key facts
- Canada's retaliatory levies will be as high as 50%.
- The tariffs apply to nearly $20bn of US products.
- Affected goods range from steel to T-shirts.
- Prime Minister Mark Carney said the trade war 'will come at a cost'.
Canada has moved to strike back in an escalating trade dispute with the United States, imposing retaliatory tariffs of up to 50% on American goods, according to the BBC.
The measures will apply to nearly $20bn of US products, covering a broad range of goods from steel to T-shirts, the BBC reported.
Prime Minister Mark Carney framed the confrontation in stark terms, saying the US trade war ‘will come at a cost’.
The scale of the levies, reaching as high as 50%, signals a firm response from Ottawa as tensions between the two neighbouring economies intensify.
With such a wide array of products caught up in the dispute, from industrial materials like steel to everyday consumer items like T-shirts, businesses and consumers on both sides of the border could feel the effects.
Why it matters
The United States and Canada are among each other's largest trading partners, so tariffs of up to 50% on nearly $20bn of goods could raise costs for businesses and consumers on both sides of the border. Carney's warning that the trade war 'will come at a cost' underscores the potential economic fallout of a deepening dispute.
Frequently asked questions
How high are Canada's new tariffs on US goods?
According to the BBC, Canada's retaliatory levies will be as high as 50%.
How much in US products is affected?
The tariffs apply to nearly $20bn of US products, ranging from steel to T-shirts, the BBC reported.
What did Mark Carney say about the trade war?
Prime Minister Mark Carney said the US trade war 'will come at a cost'.
Timeline
- The losers of the US-Canada trade war
Al Jazeera: The losers of the US-Canada trade war
- Carney says US trade war 'will come at a cost' as Canada strikes back on tariffs
BBC World: As high as 50%, Canada's levies will apply to nearly $20bn of US products, from steel to T-shirts.