π° Curated from CBS News
π Read full articleβCanadian tariffs on U.S. milk, perfume, golf clubs and other goods take effect as trade war grinds on - CBS News
Business and EconomyBy Joe Walsh9/8/20261 min read
Canada's steep retaliatory tariffs on $20 billion in U.S. goods took effect just after midnight ET on Tuesday, deepening the trade war between the two countries.
β¨ Key Highlights
- Canada's retaliatory tariffs on roughly $20 billion in U.S. goods took effect just after midnight ET on Tuesday, deepening the trade war between the two neighbors.
- The measures, announced two weeks earlier after trade talks collapsed, match U.S. duties "dollar for dollar" and range from 15% to 50%.
- American milk, perfume, video game consoles, golf clubs, fishing rods, steel, aluminum, jackets and T-shirts face 50% tariffs, while cheese, carpets and appliances like stoves and air conditioners face 25%, and forklifts and industrial molds face 15%.
- Canada dropped planned 25% tariffs on some American seafood after pushback from the lobster industry, and economists warn manufacturers in Michigan and Indiana, along with dairy producers in Wisconsin and Vermont, could be hit hardest.
- The Canadian levies respond to U.S. tariffs on Canadian goods including milk, honey, hockey sticks, alcohol, plywood and jewelry, though the disputed products represent a small share of the more than $700 billion in cross-border trade recorded last year.
- The conflict traces back to President Trump's tariff threats over drugs and migration after returning to office, and has since expanded to include his decision not to renew the U.S.-Mexico-Canada Agreement beyond 2036 and disputes over NATO and Canada's sovereignty.
Canada's steep retaliatory tariffs on $20 billion in U.S. goods took effect just after midnight ET on Tuesday, extending the trade war between the two countries.
The Canadian government announced th