Ottawa [Canada], August 26 (ANI): Canadian Prime Minister Mark Carney on Tuesday (local time) said that Canada will match the new US tariffs dollar for dollar and introduce USD 7.5 billion in new and enhanced measures to support Canadian workers and businesses.
In a post on X, Carney said, "Canada will match the new U.S. tariffs dollar for dollar. In addition, we are introducing $7.5 billion in new and enhanced measures to support Canadian workers and businesses. That builds on the nearly $25 billion in supports introduced since the implementation of the U.S. unjustified tariffs."
Canada will match the new U.S. tariffs dollar for dollar.
In addition, we are introducing $7.5 billion in new and enhanced measures to support Canadian workers and businesses. That builds on the nearly $25 billion in supports introduced since the implementation of the U.S.…
Carney said the measures were aimed at defending Canadian jobs, industries and families. "Defending Canadian jobs, industries, and families," he said.
The remarks come as Canada announced dollar-for-dollar, rate-for-rate counter-tariffs on US goods in response to Washington's decision to impose a 50 per cent tariff on USD 27.6 billion of Canadian goods, according to the Department of Finance Canada news release.
The Canadian government said it had suspended trade negotiations with the United States after Washington proposed new terms that were "not in Canada's best interest," effectively "asking too much of Canada, and offering too little in return."
"When the United States asked too much and offered too little, we chose to stand up for Canadians," Francois-Philippe Champagne, Canada's Minister of Finance and National Revenue, said in the release.
Champagne said Canada's response would include counter-tariffs as well as financial support for workers and businesses affected by the trade conflict.
"Our dollar-for-dollar, rate-for-rate counter-tariffs as well as a multi-billion dollar support package will protect workers, farmers, families, and businesses," he said.
Effective September 8, Canada will impose counter-tariffs of 15, 25 and 50 per cent on products targeted by US Section 338 and Section 232 tariffs, with the rate for each product matching the corresponding US rate.
The counter-tariffs will cover USD 27.6 billion in imports from the US and focus on sectors including steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.
Canada also announced a USD 7.5 billion package of new and enhanced measures to support workers and businesses affected by US tariffs, building on nearly USD 25 billion in support provided since the implementation of what the Canadian government called "unjustified" US tariffs.
The escalation follows the United States imposing 50 per cent tariffs on roughly USD 20 billion worth of Canadian imports after the trade talks failed, with the measures affecting around five per cent of Canada's exports to the United States.
Trump on Monday (local time) further escalated the trade dispute after he announced that tariffs on Canadian cars, trucks, automotive parts and steel imports would be raised to 50 per cent from January 2027.
"Canada has been ripping off the United States of America for years," Trump said in a post on Truth Social, accusing Ottawa of imposing high tariffs on US farmers and agricultural products.
"On January First, 2027, Tariffs on all Cars, Trucks, both large and small, Automotive Parts, and Steel, will be increased to 50%. Build in the U.S. and there are ZERO TARIFFS. Canada will be treated like a State no longer!" he said.
Trump also accused Canada of being among the most difficult countries for Washington to deal with on trade and argued that Ottawa was more dependent on the US market than the other way around.
"They feel entitled, and yet, WE DON'T NEED CANADA, THEY NEED US!" Trump said, adding that Canada conducts the overwhelming majority of its business with the United States. (ANI)
