By admin 
The Canadian government announced that it will match “dollar for dollar” tariffs, with rates of up to 50%, as a direct response to tariffs imposed by President Donald Trump last week on Canadian imports.
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The tariffs are expected to hit $20 billion in goods.
The counter-tariffs include steel, paper and appliance products. Among the products that will get the full 50% tariffs are toilet paper, wood flooring and some dairy products.
Canada said it had to impose counter-tariffs to protect its workers.
“Canada’s counter tariffs are designed primarily to provide protection for Canadian industry impacted by U.S. tariffs and allow them to compete against U.S. products in the Canadian market. It’s all about fairness. It’s all about level playing field. It’s all about supporting Canadian workers and Canadian businesses,” said Minister of Finance and National Revenue of Canada François-Philippe Champagne.
Earlier Tuesday, President Trump said he is considering renaming Lake Ontario to “Lake America” amid ongoing trade tensions between the United States and Canada. Talks between the two countries broke down late last week.
Read more Trump proposes renaming Lake Ontario amid US-Canada trade tensions
Knowing an announcement from Canada was coming, Trump said, “I deal with many countries, and Canada is easily the most difficult and unreasonable. They feel entitled, but they are not a State, and will be entitled no longer!”
Both the U.S. and Canada have integrated supply chains, with automobiles and other goods frequently crisscrossing the border for production.
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