After US president Donald Trump announced a 50 per cent tariff on Canada, Prime Minister Mark Carney has stated that Ottawa will respond with a "dollar for dollar" tariffs in retaliation.
Trump's announcement of fresh tariffs on Canada came after the US president announced that the trade talks between the two neighbors had failed. (AFP)
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Trump's announcement of fresh tariffs on Canada came after the US president announced that the trade talks between the two neighbors had failed.
Canada ‘attacked’ with US tariffs
Calling the imposition a "attack," Canadian PM Carney stated that the US tariffs will be matched "dollar for dollar" in order to protect Canada's interests and economy.
Deep Dive
What specific products will Canada impose retaliatory tariffs on in response to US tariffs?
Canada plans to impose retaliatory tariffs on US steel, dairy, appliances, agricultural equipment, pulp and paper, electronics, and other products targeted by the US tariffs.
Why did trade negotiations between Canada and the US fail?
The negotiations failed because the US introduced last-minute conditions that Canada found unacceptable, including terms that would have reduced tariff relief for Canadian-made vehicles and limited Canada's trade agreements with other countries.
How does Canada's 'dollar for dollar' tariff strategy work?
Canada's 'dollar for dollar' strategy means it will match the US tariffs by imposing equivalent tariffs on American goods, aiming to protect Canadian interests and economy from the impact of the US trade measures.
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"Canada will match Washington's new tariffs dollar for dollar in order to protect Canadian workers, farmers, families, and businesses," Carney said during a press conference.
Speaking on the fallout, US trade representative Jamieson Greer called the failed talks a "missed opportunity for Canada."
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Speaking on the fallout, US trade representative Jamieson Greer called the failed talks a "missed opportunity for Canada."
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"We're moving forward with measures that respond to Canadian retaliation. They've always had the best deal, and they still would have an even better deal, but they didn't want that," Greer told Fox news.
How is Canada retaliating to the US tariffs?
Canada has announced it will impose tariffs on US steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, and other products the US previously targeted in Canada.
This comes as Trump's tariffs will hit sectors including wine, furniture, dairy products, cement, clothing, fishing rods and hockey equipment.
The Canadian leader also met with Premiers of states to discuss the suspension of trade negotiations and steps to protect Canada.
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"Prime Minister Carney underscored that Canada is strongest when governments stand together. To this end, he emphasised continued collaboration with provincial and territorial governments, noting that the Team Canada approach has been essential in navigating the challenging times since the start of this trade war," said a statement issued from the Prime Minister's office.
The tariffs will come into effect on Tuesday, after Labour Day in Canada.
The Carney administration will release the details of the sectors hit by retaliatory tariffs later in the week.
Danita Yadav is a Senior Content Producer at Hindustan Times. Based in New Delhi, Danita serves as a pivotal voice in international reportage in the team. Operating under the mandate of delivering "without the noise", Danita excels at distilling complex geopolitical developments into lucid, objective narratives which prioritise factual accuracy over sensationalism. In HT, Danita has been recognised for her breaking news efforts and time-bound coverage of the Air India crash, which has driven over 2 million users to the website through trusted, factual coverage of the incident. Thriving in high-pressure editorial environments, Danita has also cultivated a reputation for navigating the nuances of global diplomacy and cross-border policy. With over four years of experience in the journalism industry, Danita has spent her years diving deep into the coverage of international relations and global conflicts. She has previously worked with the news teams at Outlook India and Times Network, covering a wide range of beats and topics, from education curricula and student protests to Indian politics and international conflicts such as the Ukraine, Gaza, and Sudan wars. Danita earned her Bachelor's Degree in Journalism from Kamala Nehru College, University of Delhi. Beyond the newsroom and her love for international relations, you'll find Danita 'geeking' out over books, music and BTS. Her appreciation for global pop culture and storytelling also added to her unique perspective on the "soft power" dynamics that increasingly have shaped international relations in the ever-changing global order.
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Home/World News/How Canada plans to counter US tariffs with 'dollar for dollar' method as trade talks fail
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