News
Canada slams $21bn in new tariffs against US
Canada on Wednesday announced $21 billion in new tariffs against the United States. The tariffs, which take effect from Thursday, are indication of escalation in the trade war with the U.S. This development is coming after President Donald Trump’s 25 percent tariffs on Canada’s steel and aluminum went into effect. Canada is the largest foreign supplier of both metals to the U.S. Canadian Finance Minister Dominic LeBlanc said on Wednesday that the list of products impacted by this tariff includes computers, sports equipment and cast iron products.
‘Today, I am announcing that the government of Canada, following a dollar-for-dollar approach, will be imposing, as of 12:01 a.m. tomorrow, March 13, 2025, 25 percent reciprocal tariffs on an additional $29.8 billion of imports from the United States. This includes steel products worth $12.6 billion and aluminum products worth $3 billion as well as additional imported U.S. goods worth $14.2 billion,” the minister said.
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