Prime Minister Mark Carney matched dollar-for-dollar the new tariffs imposed by President Donald Trump over the weekend and announced support programs for Canadian businesses hurt by the escalating trade war. #trump #canada #news #usa #politics
Canada will double its existing counter-tariffs on US steel and aluminum products to 50%. American-made furniture, clothing and apparel will also have new 50% tariffs applied, as will video-game consoles, smartphones and other electronics.
Overall, the retaliatory levies will affect about $20 billion worth of annual US imports, roughly matching the dollar value of the tariffs Trump put on Canadian products on Saturday under a never-before-used provision of the 1930 Tariff Act. That’s equal to about 6% of Canada’s goods imports from the US last year.
———-
Like this video? Subscribe https://www.youtube.com/@Bloomberg-News
Bloomberg News is the first word in business news. Visit bloomberg.com for the latest on global business, markets and more.
Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginals
Bloomberg on YouTube:
https://www.youtube.com/@business
https://www.youtube.com/@markets
https://www.youtube.com/@BloombergTechnology
https://www.youtube.com/@BloombergPodcasts
Connect with us on social:
https://www.instagram.com/bloombergbusiness
https://www.linkedin.com/company/bloomberg-news
https://www.tiktok.com/@bloombergbusiness
https://www.facebook.com/bloombergbusiness
source
