How Tariffs Between the U.S. and Canada Would Affect Your Wallet
· Telemundo McAllen (KTLM)
Canada has committed to responding 'dollar for dollar' to the tariffs announced by the United States amid the ongoing trade war between the two North American neighbors. Ottawa released a list on Tuesday of more than 700 products that will be subject to taxes. Starting September 8, there will be higher taxes on goods ranging from fish and cheese to smartphones and steel imported from the United States. Canada indicated that its retaliation would focus on the products 'most affected by U.S. tariffs.' The levies will be set at 15%, 25%, or 50%—rates that, according to the government, will match the U.S. tariffs on the goods targeted in the latest round from Washington, as well as on products covered by previously imposed sectoral duties. The announcement came just days after President Donald Trump's administration implemented a 50% tariff on approximately $20 billion worth of Canadian products, ranging from honey to hockey sticks. This represents only 5% of the value of goods Canada sent to the United States last year, but the punitive rate adds to a series of tariffs Trump has imposed on the country during his second term. Meanwhile, there are threats of further escalation, and therefore, businesses—and, by extension, households—on both sides of the border could soon feel the pressure. Below is a summary of some of the affected products.
AI summary · Source: Telemundo McAllen (KTLM) →
