Canada has faced new tariffs of 50% on a portion of its exports valued at approximately $20 billion to the United States of America. This occurred after trade negotiations between the US and Canada failed on August 22.
Among the goods subject to the new duties are cosmetics, clothing, alcohol, and original works of art.
In response, Canada announced the introduction of retaliatory tariffs on over 700 American goods. These items include dairy products, seafood, household appliances, wood and paper products, as well as clothing.
The counter-tariffs, with rates ranging from 15% to 50%, will take effect on September 8. Their goal is to match the scale of the new tariffs imposed by the US on Canadian goods.