Canada began imposing retaliatory tariffs on imports from the United States today, Tuesday, in response to new trade tariffs imposed by Washington on Canadian goods, amid escalating trade tensions between the two countries.
The Canadian Ministry of Finance confirmed that the new tariffs would take effect today on U.S. goods valued at approximately CAD 27.6 billion, equivalent to nearly USD 20 billion.
The new tariffs reach up to 50% and cover a wide range of American products, including steel, aluminum, household appliances, agricultural equipment, wood pulp, paper, and electronics.
These measures come at a time when trade disputes between Ottawa and Washington are intensifying, as U.S. President Donald Trump threatened Canadian aircraft manufacturer Bombardier on Monday, stating that he would prevent its products from entering the U.S. market unless the company began manufacturing its products within the United States.
Trump wrote on the "Truth Social" platform: "No more selling Bombardier products in the United States!".
The retaliatory tariffs are set to take effect from 12:01 AM Eastern Time, indicating Canadian Prime Minister Mark Carney's commitment to a tougher stance against U.S. trade escalation.
According to estimates, the new measures will double the current tariff rates imposed on Canadian companies when importing American steel and aluminum products, and will affect around 700 additional products, including household aluminum foil, railway locomotives, and steel bridges.
The recent escalation follows more than two weeks of exchanged threats and accusations between the two countries, amid Canadian efforts to mitigate the economic fallout of the trade dispute and protect its commercial interests with the United States.