Canada adds new retaliation tariffs on U.S. goods

Aug. 25 (UPI) — Canada announced retaliatory tariffs against the United States on Tuesday, matching “dollar for dollar” the tariffs imposed by President Donald Trump on Saturday after the two sides failed to reach an agreement.

The new tariffs include more than 700 U.S. products and are valued at about $20 billion, which is about the size of Trump’s latest tariffs on Canadian goods.

The Canadian tariffs range from 15% to 50% and include steel and aluminum, dairy, seafood, appliances, wood and paper products, and clothing. The metals and wood tariffs are in response to U.S. tariffs on steel, aluminum and lumber.

The new tariffs will take effect on Sept. 8. Canada also announced a $7.5 billion package to help businesses and workers hurt by the U.S. tariffs.

The two sides had been working toward an agreement on the duties, but Ottawa walked away from the talks Friday night claiming the United States wanted too much and offered too little. The Trump administration said Canada sought unreasonable last-minute demands.

Trump has taken to Truth Social to voice his frustrations with his neighbors to the North.

“The United States is giving serious consideration to changing the name of Lake Ontario to Lake America in that we don’t expect to be doing much business with Ontario any longer,” he posted Tuesday morning.

On Monday evening, he posted: “Canada has been ripping off the United States of America for years. Their ridiculously high tariffs on our Farmers and farm products has made life impossible for these great American Patriots, and has long created a 60 Billion Dollar Deficit between our two Countries. Not sustainable, and NOT ANYMORE! On January First, 2027, Tariffs on all Cars, Trucks, both large and small, Automotive Parts, and Steel, will be increased to 50%. Build in the U.S. and there are ZERO TARIFFS. Canada will be treated like a State no longer! On Trade, and in other ways, also, they are among the worst Nations in the World to deal with. They feel entitled, and yet, WE DON’T NEED CANADA, THEY NEED US! They do 95% of their business with the U.S., with us, the exact opposite!”

Canadian Prime Minister Mark Carney posted a video on X Tuesday of him speaking about the trade negotiations.

“When the Americans go to the negotiation table first with the right attitude towards our industries and true partnership, of course we’ll come to the negotiating table,” Carney said in the speech. “But an attitude at the negotiation table that Canada is a subsidiary of the United States, that Canadian industry is going to be disadvantaged relative to American industry, that we’re gonna set up terms so that over time Canadian industry is going to face constant headwinds … that’s not something we’re going to accept. And that’s before you get to constraints on our ability to do what the rest of the world wants, which is to sign trade deals with Canada. And that’s before the very fundamental issues on culture.”

He said in the post: “Our goal has always been to get the best deal for Canadians, never a deal at any price or on any time frame.”

Canadian trade minister Dominic LeBlanc told CNBC’s Squawk Box Tuesday morning that Canada hasn’t given up on talks with the United States.

“Our preference was to find a deal that benefits both countries,” he said. “We still believe that’s possible. But in the meantime, we’re not waiting by the phone.”

On X, LeBlanc posted: “I’m glad to be back in Ottawa after several weeks of intensive discussions in Washington.”

“Team Canada is strong and united,” LeBlanc said. “We will continue to support Canadian workers and businesses, to consolidate our strength at home, and to diversify our partnerships abroad.”