By Promit Mukherjee <\/p>\n
OTTAWA, Aug 25 (Reuters) – Canada on Tuesday announced retaliatory tariffs on C$27.6 billion ($19.94 billion) worth of United \u200cStates goods, matching dollar-for-dollar new duties imposed by Washington, \u200cand unveiled financial support for Canadian businesses and workers caught in the escalating \u200btrade war. <\/p>\n
The counter-tariffs take effect on U.S. goods from September 8 and will impose duties of 15%, 25% and 50% across 700 products imported from south of the border, a government statement said. <\/p>\n
In \u200cterms of financial support \u2060for affected workers and industries, Canada announced a C$7.5 billion package of new and enhanced measures including \u2060support for small and medium-sized businesses, a stream for funding cash flows of companies, and support for workers who could be at risk \u200bdue \u200bto the new tariffs. <\/p>\n
From Saturday, President \u200bDonald Trump’s new 50% \u200ctariffs across $20 billion of Canadian imports took effect after talks between the two countries to avert the tariffs collapsed. <\/p>\n
The new tit-for-tat tariffs mark a new low in the Canada-U.S. relationship. <\/p>\n
“Our dollar-for-dollar, rate for rate counter-tariffs as well as a multi-billion dollar support package \u200cwill protect workers, farmers, families, and businesses,” \u200bCanada’s Finance Minister Fran\u00e7ois-Philippe Champagne said. <\/p>\n
The \u200bnew tariffs are designed \u200bso that the impact on Canadian consumers and \u200cbusinesses is minimal and could still \u200bhit the U.S., \u200ba government official said. <\/p>\n
The 50% tariffs are on some important sectors such as steel, aluminum, furniture and clothing, 25% tariffs \u200bare on cheese, \u200cappliances and some seafood, while the 15% tariffs will \u200bbe on electronics and tools, the official said. <\/p>\n
(Reporting by Promit \u200bMukherjee; Editing by Caroline Stauffer ) <\/p>\n","protected":false},"excerpt":{"rendered":"By Promit Mukherjee OTTAWA, Aug 25 (Reuters) – Canada on Tuesday announced retaliatory tariffs on C$27.6 billion ($19.94…\n","protected":false},"author":3,"featured_media":1023359,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[64,2147,409447,79,43339,99695,67,132,68],"class_list":["post-1023358","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-canada","tag-canadian-businesses","tag-economy","tag-financial-support","tag-retaliatory-tariffs","tag-united-states","tag-unitedstates","tag-us"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117156946278956338","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1023358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=1023358"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1023358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/1023359"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=1023358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=1023358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=1023358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}