US imposes 50% tariffs on $20 billion worth of Canadian products, and Canada says it will retaliate

The United States has imposed 50 percent tariffs on $20 billion worth of Canadian products following the failure of last-ditch negotiations to resolve ongoing tensions between the historic allies. In response, the Canadian government has stated that it will retaliate against the trade measures.

In the wake of the US tariff announcement, Canadian officials have outlined plans to mitigate the economic impact. Carney stated that his administration would announce additional support measures for affected Canadian workers and businesses in the coming days.