U.S. Imposes 50% Tariffs on Canada as Ottawa Threatens Retaliation
Updated
Updated · The New York Times · Aug 22
U.S. Imposes 50% Tariffs on Canada as Ottawa Threatens Retaliation
3 articles · Updated · The New York Times · Aug 22
Summary
Saturday’s 50% U.S. tariffs on a subset of Canadian goods took effect, ending a recent lull and pushing the two countries back toward a possible trade war.
Canada responded with a threat to retaliate in kind, raising the risk of a tit-for-tat escalation that could widen beyond the initially targeted products.
U.S. importers are likely to absorb at least part of the new duties, adding pressure at a time when consumers and businesses are still dealing with persistently high prices.
Uncertainty may prove the bigger economic hit, as Trump’s shifting tariff moves in his second term have already rattled Wall Street, strained alliances and fueled concern over higher domestic prices.