Recommended
Canada announced this Tuesday the U.S. products worth about 27.6 billion Canadian dollars (about 20 billion U.S. dollars) to which it will apply tariffs of up to 50%.
It also announced a 7.5 billion Canadian dollar aid package for workers and companies affected by the trade war with the United States.
The new levies, which will take effect at 12:01 a.m. local time on September 8, will be 15%, 25%, or 50%, depending on the product, and will mirror the rates applied by Washington to Canadian goods, according to the Ministry of Finance.
When announcing the measures, Canada's Minister of Finance, François-Philippe Champagne, declared that the trade war declared by the US against the country "is an unprecedented challenge."
"But Canada will rise to the occasion. Canadians will rise to the occasion. We will face this united," he said.
The retaliation affects sectors such as steel, dairy products, household appliances, agricultural machinery, pasta, and paper and electronics. The extensive list also includes fish and seafood, honey, cheese, refrigerators, freezers, and furniture, some of which have 50% levies.
High-ranking Canadian officials noted that the retaliation is aimed at protecting the Canadian market and rejected the idea that the list of products released today is designed to harm specific U.S. states.
Carney informs the opposition
This Tuesday, the Office of the Prime Minister of Canada noted that Carney spoke with the leaders of the main opposition parties to "provide them with the latest information on the Government's response to the unjustified US tariffs."
The tariffs are a "dollar for dollar and rate for rate" retaliation by Prime Minister Mark Carney's government in response to new U.S. tariffs on 27.6 billion Canadian dollars in exports, which went into effect last Saturday.
Canada is, along with China, one of the two countries that have responded with retaliatory tariffs to the levies imposed by the administration of U.S. President Donald Trump.
Ottawa's response includes 7.5 billion Canadian dollars in new aid, which is added to nearly 25 billion mobilized during the last 18 months to deal with U.S. trade measures.
The package includes an additional 1.5 billion for small and medium-sized enterprises through regional development agencies; a new 500 million liquidity line through the Business Development Bank of Canada (BDC); 2 billion for investment projects by companies affected by the tariffs; and 3.5 billion intended for workers and employers.
Labor measures include the expansion of several temporary unemployment insurance flexibilities, including the extension of benefits for long-tenured workers, as well as a new program so that companies can retain and professionally retrain their employees.
The escalation comes after trade negotiations between Ottawa and Washington collapsed on Friday, when Carney ordered the suspension of talks after considering that the new U.S. demands were "unfair" and economically harmful, and that they compromised Canadian sovereignty.
The leader summarized Ottawa's position on Saturday by stating that the United States "was asking for too much and offering too little."
Carney hardened his tone this Monday and stated that during the negotiations, Canada verified that Washington intended to "destroy" important Canadian industrial sectors, including automobiles, steel, and aluminum.
"That was one of the main reasons we said no. It was a bad deal," declared the Prime Minister, who added that Canada will not agree to negotiate under the premise that it is "a subsidiary of the United States."
Despite the confrontation, Carney assured that Ottawa remains willing to reach a trade agreement with Washington as long as the talks take place between two sovereign countries and produce a mutually beneficial pact. EFE
[Publicidad]