Canada imposes retaliatory tariffs of up to 50% on hundreds of US products

Canada has announced retaliatory tariffs on US goods worth 27.6 billion Canadian dollars, responding "dollar for dollar" to new tariffs imposed by official Washington on Canadian products.

The Canadian government has also announced a financial support package for Canadian businesses and workers affected by the escalating trade war.

The retaliatory tariffs will take effect on September 8 and will impose duties of 15%, 25% and 50% on about 700 products imported from the US, a government statement said.

To support affected workers and sectors, Canada has announced a 7.5 billion Canadian dollar package, with new and expanded measures, including support for small and medium-sized businesses and assistance for workers who may be affected by the new tariffs.

As of Saturday, President Donald Trump's new 50% tariffs on $20 billion worth of Canadian imports have taken effect, after talks between the two countries to avoid them failed.

The new reciprocal tariffs mark a new low point in Canada-US relations.

"Our dollar-for-dollar and rate-for-rate retaliatory tariffs, along with our multi-billion dollar support package, will protect workers, farmers, families and businesses," said Canadian Finance Minister François-Philippe Champagne.

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The new tariffs are designed to have minimal impact on Canadian consumers and businesses, but they could also hit the US economy, a government official said.

Tariffs of 50% will be applied to several important sectors, such as steel, aluminum, furniture and clothing. 

Tariffs of 25% will be imposed on cheese, electrical appliances and some seafood, while 15% will be applied to electronic devices and tools, the official said.