Canada Matches US Tariffs Dollar-For-Dollar, Rate-For-Rate

Summary

Canadian Finance Minister Francois-Philippe Champagne announces retaliatory tariffs on up to C$27.6 billion of US imports effective September 8, matching US tariffs dollar-for-dollar and rate-for-rate. The measures include doubling existing counter-tariffs on US steel and aluminum products to 50% and keeping existing auto tariffs in place. The stated goal is to protect Canadian industry and create a level playing field.

• Canada responds to US tariffs with dollar-for-dollar retaliatory tariffs.
• Tariffs apply to C$27.6 billion of US imports at rates up to 15%, 25%, or 50%.
• Existing Canadian country tariffs, including autos, remain in place.
• A remission framework remains available to mitigate unintended business consequences.
• The policy is framed as protection for Canadian industry and a level playing field.