The following is available in its entirety on the Finance Canada website.
Following the U.S. decision to impose a 50 per cent tariff on $27.6 billion of Canadian goods effective August 22, Minister Champagne confirmed that Canada will match the new U.S. tariffs dollar for dollar, rate for rate, with additional Canadian tariffs on U.S. goods. This focused response will protect Canadian workers, farmers, fishers, families, and businesses, defend industries harmed by unjustified U.S. tariffs, and help Canadian producers compete with U.S. products in the Canadian market.
Effective September 8, Canada will impose counter-tariffs of 15, 25 and 50 per cent on products drawn from those targeted by U.S. Section 338 and Section 232 tariffs, with the rate for each product matching the corresponding U.S. rate.
Canada’s counter tariffs will apply to products covering $27.6 billion in imports from the U.S. and will focus on sectors such as steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, that are most impacted by U.S. tariffs.
In addition, to support Canadian workers and businesses impacted by U.S. tariffs, the government is also introducing a $7.5 billion package of new and enhanced measures that deliver fast, simple and agile supports to Canadian workers and businesses, building on the nearly $25 billion in supports the government has provided since the implementation of the U.S. unjustified tariffs.
The government will continue to assess programs and policies to support businesses who continue to be impacted by tariffs, including expanding the availability of existing measures to newly impacted sectors.