Canada announces $20 bln retaliatory tariffs on U.S. goods, unveils support measures

Canada ​on Tuesday ​announced retaliatory tariffs on ‌C$27.6 billion ($19.94 ​billion) worth of United States goods, matching dollar-for-dollar ‌new duties imposed by Washington, and unveiled financial support for Canadian businesses and workers caught ‌in the escalating trade war. The counter-tariffs take ‌effect on U.S. goods from September 8 and will impose duties of 15%, 25% and ⁠50% ​across ⁠700 products imported from south of the border, ⁠a government statement said.

In terms of financial ​support for affected workers and industries, Canada ⁠announced a C$7.5 billion package of new ⁠and enhanced ​measures including support for small and medium-sized businesses, a stream for funding ⁠cash flows of companies, and support for workers ⁠who ⁠could be at risk due to the new tariffs.