Canada prepares to impose retaliatory tariffs on roughly $27.6 billion worth of US imports starting September 8.
Canada is preparing to impose retaliatory tariffs on roughly $27.6 billion worth of US imports starting September 8. The administration announced that the countermeasures will target approximately 700 products, including steel, aluminum, fresh and frozen fish, and rail equipment. These tariffs are a strategic response to the 50% tariffs imposed by the US on Canadian goods last Saturday. Industry Minister Mélanie Joly stated that the selection of the products was intended to put political pressure on the States. While Canada chose not to target energy and potash, which the US relies on heavily, the list includes lobsters, which may impact the Maine Senate race. Ontario Premier Doug Ford expressed his stance on the other side, stating that he will leverage every bit of pain possible on Americans to respond to the actions of President Trump. This move follows a recent threat from President Trump to rename Lake Ontario to Lake America.