Canada's Dollar-for-Dollar Retaliatory Tariffs Against US Come Into Force
Last week, Trump said it was good for Canadian politicians to make him the enemy until their economy collapses.
TL;DR
- Canada imposed $20 billion in counter-tariffs on American goods, including seafood and furniture.
- The tariffs took effect on September 8th.
- These measures are a response to the collapse of trade talks last month.
- Canada's tariffs are equivalent in value to U.S. tariffs.
- RBC Economics suggests the tariffs will not hinder overall growth despite potential impacts on some U.S. businesses.
- Canadian Finance Minister François-Philippe Champagne announced the tariffs on August 25th.