Canada imposes 15%-50% tariffs on US imports after US duties
Canada just announced tariffs of 15% to 50% on a bunch of US imports (think steel, aluminum, dairy, and electrical gear) starting September 8.
This is their answer to the US hitting $20 billion worth of Canadian goods with big new duties last week.
Finance Minister Francois-Philippe Champagne said, "Canada must respond and today we are, in a proportionate, targeted and strategic way."
Canada rolls out $5.4B aid package
To help out businesses and workers feeling the pinch, Canada's rolling out a $5.4 billion aid package.
Meanwhile, things could get even tenser: Trump is planning to bump tariffs on Canadian auto imports to 50% next year.
Still, most Canadians seem to back Mark Carney's approach so far, even as politicians like Ontario Premier Doug Ford voice concerns about where this is all heading.