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Canada applies comparable tariffs on U S goods
Canadian Prime Minister Mark Carney announced that Canada will impose retaliatory tariffs on American imports worth the same amount as the tariffs imposed by the United States, starting from September 8. This marks an escalation in the trade dispute between the two countries. The new tariffs will affect multiple sectors, including steel, dairy, household appliances, agricultural equipment, paper, and electronics, with further details to be announced soon. This move comes after the United States implemented a 50% tariff on Canadian goods valued at approximately $20 billion, following failed trade negotiations between the two nations. The talks faltered over American demands related to truck manufacturing rules and restrictions on foreign trade agreements. With a significant bilateral trade volume—last year reaching about $900 billion—this situation poses a serious threat to economic tensions. There is also notable public support in Canada for a strong stance against Washington, amid concerns about potential negative impacts on tourism and trade.
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