Canada hits US with counter-tariffs on more than 700 products

Canada imposes tariffs on US goods worth $19.9bn goods which will take effect on September 8 as trade talks with Washington collapse.Canada has announced retaliatory tariffs against the United States as the trade war between Washington and Ottawa escalates, impacting hundreds of products.On Tuesday, the Canadian government said it would impose tariffs on 27.6 billion Canadian dollars, or $19.9bn, worth of US goods, matching “dollar for dollar” the new US duties that Trump imposed. It also announced a new plan for financial support for businesses caught in the trade war.Recommended Stories list of 4 itemslist 1 of 4Nvidia, Supermicro employees charged over export of AI servers to Chinalist 2 of 4Who are Iran’s top trading partners US would need to target to isolate it?list 3 of 4How can a heavily indebted football club afford Mo Salah?list 4 of 4China says will safeguard its own interests as US expands Iran sanctionsend of listThe counter-tariffs will impact more than 700 products, the government said in a statement, and will target the steel and aluminium, dairy, appliances, agricultural equipment, pulp and paper, plastics and electronics sectors.The tariffs will range from 15 percent to 50 percent and take effect on September 8.The Canadian government also announced a new 7.5 billion-Canadian-dollar ($5.42bn) funding package to help small- and medium-sized businesses mitigate financial risks caused by the new tariffs.Negotiations deteriorateThe new tariffs come after US President Donald Trump imposed 50 percent tariffs on Canadian products on Saturday, impacting $20bn worth of Canadian goods, only days after announcing a deal.On Monday, Trump announced new tariffs on Canadian autos, which would double existing tariffs to 50 percent from January 1.Trump has also hurled insults at Canada in recent days. On Tuesday, Trump said that he was considering renaming Lake Ontario – the easternmost of the Great Lakes, which borders the Canadian province of Ontario – “Lake America”. The US president also referred to Prime Minister Mark Carney as “Governor Carney”, echoing longstanding remarks about annexing Canada as the “51st state”.