Canada sets $20 billion in retaliatory tariffs after US imposes 50% levy
What's next: Canada's counter-tariffs on more than 700 US goods are due to take effect Sept. 8, with Ohio, Illinois and Pennsylvania among the most exposed.
Canada moved to retaliate after the United States imposed a new 50% tariff on roughly C$28 billion, or $20 billion, of Canadian goods, escalating a trade fight that now reaches steel, aluminum, lumber and autos. Prime Minister Mark Carney had ended negotiations with President Donald Trump's administration before a deal deadline, prompting the latest US action. Ottawa's response targets more than 700 American products with tariffs ranging from 15% to 50%, including dairy, seafood, appliances, wood and paper products, clothing and farm equipment. Economists and companies warn the dispute could disrupt deeply integrated cross-border supply chains, especially in autos, while some US metals stocks initially rose before giving back gains.