Canada Strikes Back: Tariffs Imposed on U.S. Goods

Canada plans to impose 25% tariffs on C$155 billion worth of U.S. goods in response to proposed U.S. tariffs. The initial tariffs on C$30 billion will start immediately, followed by the rest in 21 days. This countermeasure will remain until the U.S. withdraws its trade actions.

In a significant trade move, Canada is set to impose 25% tariffs on U.S. products valued at C$155 billion, retaliating against potential U.S. tariffs on Canadian exports, Prime Minister Justin Trudeau announced on Monday.

The initial phase of tariffs, impacting C$30 billion worth of goods, will be implemented immediately, with additional tariffs on C$125 billion in merchandise following in 21 days, according to Trudeau's statement.

Trudeau emphasized that these tariffs will persist until the U.S. withdraws its trade actions and highlighted ongoing discussions with provincial and territorial leaders to explore further non-tariff measures.

(With inputs from agencies.)