Carney matches Trump tariffs with 50% tax on U.S. dairy, steel

Prime Minister Mark Carney matched the new tariffs imposed by President Donald Trump and announced new support programs for Canadian businesses hurt by the escalating trade war with the country’s largest trading partner. Canada will double its existing counter-tariffs on U.S. steel and aluminum products to 50%. American-made milk, furniture, clothing and apparel will also have new 50% duties applied, as will video-game consoles, smartphones and other electronics.

Overall, the retaliatory levies will affect $20 billion worth of annual U.S. exports to Canada, roughly matching the dollar-value impact of the tariffs the White House put on Canadian products on Saturday. It’s equal to about 6% of U.S. exports to Canada last year.