Canada to announce retaliatory tariffs on US goods today

Investing.com -- Canada plans to announce retaliatory tariffs on United States goods today, according to Dominic LeBlanc, the minister responsible for U.S. trade.

"I think that’s the government intention," LeBlanc said Tuesday on CNBC when asked about the timing of tariffs on goods imported from the U.S.

LeBlanc said the move should not come as a surprise to the American administration. "We said that if we didn’t get to a deal, we would have to take the steps that any responsible government would take to protect those sectors of the economy. Our preference was not to do that," he said.

The announcement follows President Donald Trump’s threat Monday to raise U.S. tariffs on all cars, trucks and automotive parts from Canada to 50% starting January 1, 2027. The move escalates a trade dispute after negotiations between the two countries collapsed last week.

The failed trade agreement would have reduced the top-line tariff rate on Canadian cars and light-duty trucks from 25% to 15% and lowered tariffs on aluminum and steel from 50% to 25%. The deal fell apart Friday over several disagreements, including whether U.S. tariff relief would have applied to medium- or heavy-duty trucks.

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