Starting September 8, Canada will impose punitive tariffs on American goods of between 15 and 50 percent. The tariffs on goods worth around SEK 200 billion will correspond to the tariffs that US President Donald Trump has announced for Canadian goods.
"We are responding dollar for dollar, tariff for tariff, to the US's punitive tariffs," says Champagne.
In addition, the government is announcing support equivalent to over SEK 51 billion for Canadian companies and workers affected by US tariffs.
Canada has faced an unprecedented challenge. But Canada will rise up, says the finance minister.
Among the new tariffs announced is an increase from 25 to 50 percent on steel and aluminum. Such high tariffs are also being imposed on clothing, furniture and cosmetics, according to the AP.
Donald Trump made new threats in the tariff dispute with Canada on Monday, including that tariffs on steel will be increased to 50 percent from the new year. Negotiations between the US and Canada have recently stalled, which has meant that the US has imposed 50 percent tariffs on a wide range of Canadian goods.
Canadian Prime Minister Mark Carney hit back hard and this weekend presented retaliatory tariffs against the United States, which will take effect from September.
"The attitude at the negotiating table was that Canada is subordinate to the United States and that is not something we accept," Carney said on Monday.
