Canada Imposes 25% Retaliatory Tariffs on US Goods

Canada announced it will impose 25% tariffs on more than $20 billion worth of U.S. goods in retaliation for the Trump administration's tariffs on steel and aluminum imports, which took effect overnight.

Canadian Finance Minister Dominic LeBlanc said at a press conference that the new tariffs include steel and aluminum, as well as other U.S. goods, including computers, sporting equipment, and cast iron products.

The new Canadian tariffs are in addition to 25% tariffs Ottawa imposed on $30 billion worth of U.S. goods on March 4, in retaliation for President Donald Trump's imposition of broad tariffs on Canadian imports.

These Canadian countermeasures remain in place, despite Trump issuing temporary waivers on some of his tariffs on March 6 following a sharp sell-off in the stock market.

Trump's 25% tariffs on steel and aluminum applied to all metal imports, not just those from Canada. Following their implementation early Wednesday morning, the European Union quickly announced its intention to impose tariffs on more than $28 billion in U.S. goods, starting in April.

"This is about more than just our economy, this is about the future of our country," Canadian Foreign Minister Mélanie Joly said during the press conference.

Joly added, "Canadians have had enough, and we are a strong country."