NewzOn Tuesday, Canada announced retaliatory counter-tariffs ranging from 15% to 50% on US$19.94 billion (C$27.6 billion) worth of US goods, including steel and dairy products, in response to punitive tariffs imposed by US President Donald Trump. The dollar-for-dollar retaliation intensifies an escalating trade war between the historically close allies as bilateral relations sharply deteriorate.
Alongside the trade measures, the Canadian government unveiled a C$7.5 billion (US$5.4 billion) aid package designed to support firms and workers impacted by the escalating economic conflict. The tensions have been further inflamed by recent rhetoric from President Trump, who insulted Canadian Prime Minister Mark Carney by referring to him as "Governor Carney" and suggested renaming Lake Ontario to "Lake America."
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