The counter-tariffs take effect on U.S. goods from September 8 and will impose duties of 15%, 25% and 50% across 700 products imported from south of the border, reports Promit Mukherjee at Reuters.
In terms of financial support for affected workers and industries, Canada announced a $7.5 billion package of new and enhanced measures including support for small and medium-sized businesses, a stream for funding cash flows of companies, and support for workers who could be at risk due to the new tariffs.
“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,” Canada’s Finance Minister François-Philippe Champagne said.
The 50% tariffs are on some important sectors such as steel, aluminum, furniture and clothing, 25% tariffs are on cheese, appliances and some seafood, while the 15% tariffs will be on electronics and tools, the official said.
Elsewhere:
Le Monde: Canada unveils counter-tariffs of 15% to 50% on US goods as trade war intensifies