“Canada imposed tariffs of 15% to 50% on hundreds of products from the US on Tuesday, as Prime Minister Mark Carney bets that standing up to President Donald Trump will eventually help Ottawa’s negotiating position with its biggest trading partner,” reports Bloomberg News. “Carney’s government increased the import tax on many US steel items to 50% from 25%, and applied tariffs to a range of consumer goods — motorcycles, cosmetics, cheese and more — at 12:01 a.m. New York time. The measure will hit US exporters particularly hard in states such as Michigan and Ohio that do a lot business with Canada and host heated races in November’s midterm elections. It’s a calculated risk for Carney, who a year ago removed many of the counter-tariffs his predecessor, Justin Trudeau, had implemented. Trump administration officials have repeatedly said they won’t tolerate retaliation and noted that only two countries, Canada and China, have used counter-tariffs.”
The U.S. government has declined to say how or when it may respond with additional tit-for-tat tariffs of its own in retaliation for Canada’s retaliatory tariffs.
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