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Canada Imposes Retaliatory Tariffs on US Goods

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Canada Imposes Retaliatory Tariffs on US Goods

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Canadian Prime Minister Justin Trudeau announced retaliatory tariffs of 25% on $107 billion worth of U.S. goods after the U.S. imposed similar tariffs on Canadian imports. The targeted products include beer, wine, bourbon, fruits, juices, clothing, sports equipment, and household appliances. About $30 billion of these tariffs will take effect immediately, with the rest following in three weeks.

Trudeau criticized the U.S. decision, warning of job losses and higher consumer costs in both countries. He encouraged Canadians to support domestic products and reconsider U.S. travel plans. Economists fear this escalation could trigger a trade war, slow global economic growth, and increase inflation.