The Japan Times - Canada unveils counter tariffs of 15% to 50% on US goods

EUR -
AED 4.283794
AFN 76.404694
ALL 92.292072
AMD 424.393465
ANG 2.087696
AOA 1070.802708
ARS 1760.735104
AUD 1.630375
AWG 2.093781
AZN 1.949821
BAM 1.956717
BBD 2.350042
BDT 143.579145
BGN 1.978729
BHD 0.439916
BIF 3483.492514
BMD 1.166452
BND 1.48252
BOB 13.435182
BRL 6.014576
BSD 1.166772
BTN 111.271771
BWP 15.622122
BYN 3.52011
BYR 22862.454114
BZD 2.34668
CAD 1.616498
CDF 2656.592018
CHF 0.936074
CLF 0.027032
CLP 1063.921159
CNY 7.841064
CNH 7.838142
COP 3571.010352
CRC 529.359467
CUC 1.166452
CUP 30.910971
CVE 110.316708
CZK 24.099651
DJF 207.772934
DKK 7.475754
DOP 68.331443
DZD 155.202221
EGP 58.822061
ERN 17.496776
ETB 188.323257
FJD 2.585323
FKP 0.855821
GBP 0.855517
GEL 3.038604
GGP 0.855821
GHS 13.010265
GIP 0.855821
GMD 86.317081
GNF 10251.805237
GTQ 8.902096
GYD 244.109187
HKD 9.142585
HNL 31.295401
HRK 7.536795
HTG 152.640237
HUF 362.182679
IDR 20627.532579
ILS 3.47935
IMP 0.855821
INR 111.280487
IQD 1528.503338
IRR 1603375.401123
ISK 141.211275
JEP 0.855821
JMD 185.186801
JOD 0.826981
JPY 185.726527
KES 150.997021
KGS 102.006547
KHR 4722.112147
KMF 493.408948
KPW 1049.806909
KRW 1613.039923
KWD 0.360048
KYD 0.972343
KZT 534.271875
LAK 26188.050381
LBP 104485.778929
LKR 383.244563
LRD 211.766536
LSL 18.663188
LTL 3.444228
LVL 0.705575
LYD 7.387463
MAD 10.781792
MDL 20.162191
MGA 4993.297656
MKD 61.549641
MMK 2449.281265
MNT 4195.187296
MOP 9.420094
MRU 46.785531
MUR 54.555083
MVR 18.032901
MWK 2023.204956
MXN 19.765997
MYR 4.714781
MZN 74.542123
NAD 18.663188
NGN 1572.400606
NIO 42.940864
NOK 10.892163
NPR 178.041505
NZD 1.95502
OMR 0.448493
PAB 1.166837
PEN 3.915986
PGK 5.173425
PHP 71.975891
PKR 323.702789
PLN 4.305805
PYG 6994.278366
QAR 4.253394
RON 5.254513
RSD 117.367784
RUB 98.561364
RWF 1719.884029
SAR 4.383865
SBD 9.354214
SCR 15.977037
SDG 701.617697
SEK 11.069032
SGD 1.481603
SHP 0.864184
SLE 28.752828
SLL 24459.908871
SOS 666.826848
SRD 44.058632
STD 24143.195972
STN 24.512015
SVC 10.209786
SYP 15166.205421
SZL 18.661587
THB 38.184906
TJS 10.757612
TMT 4.094246
TND 3.399894
TOP 2.808536
TRY 56.105863
TTD 7.926885
TWD 37.181932
TZS 3091.094818
UAH 52.130535
UGX 4352.095885
USD 1.166452
UYU 46.902587
UZS 13741.617696
VES 914.127758
VND 30458.387848
VUV 137.992864
WST 3.168017
XAF 656.250533
XAG 0.017158
XAU 0.000252
XCD 3.152394
XCG 2.102922
XDR 0.824742
XOF 656.264605
XPF 119.331742
YER 276.571706
ZAR 18.641946
ZMK 10499.461895
ZMW 22.221225
ZWL 375.596985
  • CMSC

    0.0920

    21.32

    +0.43%

  • BCC

    -1.1700

    81.07

    -1.44%

  • BCE

    -0.2600

    23.59

    -1.1%

  • CMSD

    0.1200

    21.18

    +0.57%

  • RIO

    0.8600

    105.66

    +0.81%

  • JRI

    0.0400

    12.41

    +0.32%

  • NGG

    0.5500

    80.97

    +0.68%

  • BTI

    -0.4500

    56.26

    -0.8%

  • RYCEF

    0.1900

    20.44

    +0.93%

  • GSK

    0.1200

    51.9

    +0.23%

  • RBGPF

    2.5700

    71.13

    +3.61%

  • AZN

    3.1950

    169.905

    +1.88%

  • VOD

    0.0850

    16.065

    +0.53%

  • RELX

    -0.4700

    35.92

    -1.31%

  • BP

    -0.7300

    43.01

    -1.7%

Canada unveils counter tariffs of 15% to 50% on US goods

Canada unveils counter tariffs of 15% to 50% on US goods

Canada on Tuesday announced counter-tariffs on US goods ranging between 15 percent and 50 percent, intensifying the trade war between the historically close allies.

Text size:

Ottawa's retaliation takes effect September 8, a timeframe earlier outlined by Prime Minister Mark Carney after US President Donald Trump's 50-percent duties on Canadian products came into place Saturday.

In detailing Ottawa's response, officials said Tuesday that its duties will match US levels. These impact industries like steel, dairy and electronics.

Canada's government also announced a $5.4 billion (CA$7.5 billion) aid package for impacted firms and workers.

"This is an unprecedented challenge imposed on Canada. But Canada will meet the moment," Canada's Finance Minister Francois-Philippe Champagne said.

"I think what Canadians can see this morning is that we stand united. We stand united in our response," he added.

- Tit-for-tat? -

The steep US tariffs hit about $20 billion in Canadian goods -- about 5.5 percent of its exports to the United States -- after trade negotiations collapsed at the eleventh hour.

Under Canada's planned response, US steel and aluminum products previously subject to a 25-percent duty will soon face 50-percent tariffs.

Goods facing 25-percent tariffs will include appliances, dairy products like cheese, as well as certain steel and aluminum derivative products.

A small category will see a 15-percent duty, including electric equipment and tools.

Overall, these form about 7.3 percent of Canada's imports from the United states.

But analysts warn of tit-for-tat escalation.

Already, Trump additionally pledged Monday to double tariffs on Canadian autos starting next year, up to 50 percent from the current 25 percent for non-US content.

Ontario Premier Doug Ford criticized Trump's threat on autos, saying he could "kiss my ass" and threatening an electricity export surcharge.

In an earlier phase of the dispute, Ontario imposed a temporary 25-percent surcharge on electricity exports to three US states.

Trump lashed out at Ford, warning of "far worse" consequences. He also referred to Carney as a "governor," re-upping his inflammatory push for Canada to become the 51st US state.

Highlighting the animosity, Trump said Tuesday he was considering renaming Lake Ontario as "Lake America," as he did last year with the Gulf of Mexico, which he said should now be called the "Gulf of America."

Trump's latest tariffs do not exempt products covered by the US-Mexico-Canada free trade agreement (USMCA). They raise the US effective tariff rate on Canadian exports to 6.9 percent from 5.1 percent, Oxford Economics estimates.

Tariffs on plastics, electrical machinery, and wood and paper products contribute most to the increase.

"Manufacturers in Quebec, New Brunswick, and Ontario will be affected the most," Oxford Economics said.

- Threats to culture -

Over the weekend, Carney said US negotiators sought restrictions on Canadian trade deals with other countries at the last minute.

US officials made unacceptable "threats" to the French language and "Quebec culture" too, he added, referring to eastern Canada's French-speaking province.

But Trump pushed back Tuesday, saying on Truth Social that he would "never interfere with Canadians speaking French!"

"This lie was made up by a weak and ineffective Prime Minister in an attempt to gain political support," Trump charged.

The United States is Canada's biggest trading partner, with Canadian exports to its neighbor representing 70 percent of its overall total.

Canada is the second biggest US trading partner in goods this year, behind Mexico.

Polling released Sunday by the Angus Reid Institute showed Canadian broadly support Carney's move to walk away from talks, but some fear economic repercussions.

The White House had alleged "discriminatory treatment" by Canada against US alcohol, automobile and dairy products in rolling out new tariffs.

Trump delayed their implementation, but both sides failed to reach an agreement after hours of talks.

Beyond tariffs, Washington and Ottawa also have to agree on revisions to the USMCA, which Trump declined to renew in its current form.

T.Ikeda--JT