Canada hits US with $20 billion retaliatory tariffs

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Key points

• Canada Class Action Lawsuit: $8.7 million settlement offers eligible Canadians up to $5, 000 – Check who qualifies and how to claim compensation.
• From Saturday, President Donald Trump's new 50% tariffs throughout $20 billion of Canadian imports took effect after negotiations between the two countries to avert the tariffs collapsed.
• Canada has confirmed C$27.6 billion ($19.94 billion) in retaliatory tariffs on US goods, matching Washington's latest duties dollar-for-dollar.
• "Our dollar-for-dollar, rate for rate counter-tariffs as ‌well as a multi-billion dollar support package will protect workers, farmers, families, and businesses, " Canada's Finance Minister Francois-Philippe Champagne remarked.
• Lake Ontario could become 'Lake America': Why Trump is considering the name change.

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Canada announces $20 billion retaliatory tariffs on US goods, unveils backing measures.

Canada announces $20 billion retaliatory tariffs on US goods, unveils backing measures. ReutersLast Updated: Aug 26, 2026, 12: 36: 00 AM IST.

Canada has confirmed C$27.6 billion ($19.94 billion) in retaliatory tariffs on US goods, matching Washington's latest duties dollar-for-dollar. Listen to this article in summarized format. Unlock AI Briefing and Premium Content. New Year Offer 24 Hours Left. Subscribe Now Already a member? Sign In.

Canada on Tuesday confirmed retaliatory tariffs on C$27.6 billion ($19.94 billion) worth of United States goods, matching dollar-for-dollar new duties imposed by Washington, and unveiled financial backing for Canadian businesses and workers caught in the escalating ‌trade war. The counter-tariffs ⁠take effect ⁠on U.S. Goods from September 8 and will impose duties of 15%, 25% and 50% throughout 700 products imported from south of the border, a administration statement noted. – MarkJCarney (@MarkJCarney).

Canada 'ripping off' US for decades: Trump notes Ottawa 'most challenging and unreasonable' to accord with In terms of financial backing for affected workers and industries, Canada confirmed a C$7.5 billion package of new and enhanced measures including ⁠backing for ‌small and medium-sized businesses, a stream for funding cash flows of firms, and backing for workers who ⁠could be at risk due to the new tariffs. From Saturday, President Donald Trump's new 50% tariffs throughout $20 billion of Canadian imports took effect after negotiations between the two countries to avert the tariffs collapsed. The new tit-for-tat tariffs mark a new low in the Canada-U.S. Relationship. Live Events.

"Our dollar-for-dollar, rate for rate counter-tariffs as ‌well as a multi-billion dollar support package will protect workers, farmers, families, and businesses, " Canada's Finance Minister Francois-Philippe Champagne remarked. The new tariffs ⁠are designed so that the impact on Canadian consumers and businesses is minimal and could still hit the U.S., a administration official stated. While the 15% tariffs will be on electronics and tools, the official stated, the 50% tariffs are on some significant sectors such as steel, aluminum, furniture and clothing, 25% tariffs are on cheese, appliances and some seafood. Add Now!

Canada tariffsU.S. Goodsretaliatory tariffsfinancial backing for businessesCanada U.S. Relationsimpact of tariffs.

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For now, canada hits US with $20 billion retaliatory tariffs remains the part of the story worth watching, and further updates are likely as more details are confirmed.