Canada imposes tariffs on $20 billion of US imports

Canada imposed new tariffs on around $20 billion worth of US imports on September 8 in response to US trade restrictions. The tariffs, set at 15%, 25% and 50%, cover a range of products, including steel, aluminum and dairy products.

The list of goods subject to the Canadian tariffs includes certain dairy products, such as cheese. Seafood, which had previously been considered among the categories that could face restrictions, was excluded from the list.

Ottawa’s decision came in response to the United States imposing 50% tariffs on a similar value of Canadian goods. Washington cited, among other issues, conditions for US products entering the Canadian market, including in the automotive, alcoholic beverage and dairy sectors.

The US tariffs cover a range of Canadian industrial products and are estimated to affect around 5.5% of Canada’s exports to the United States. The trade restrictions are expected to have the greatest impact on industrial businesses in central Canada.

Trade negotiations between Canada and the United States were suspended on August 21 after several days of meetings in Washington. The introduction of reciprocal tariffs marks a further escalation in trade tensions between the two countries and creates additional barriers to bilateral trade, including dairy products.

Tags: Canada, USA, Cheese, dairy products, import tariffs