Canada announces reciprocal tariffs on $21B of US products

Canada will impose an additional 25% reciprocal tariffs on US goods worth $20.6 billion beginning Thursday, Canada's Finance Minister Dominic LeBlanc said Wednesday.

Canada will impose counter-tariffs on US products including $8.7 billion of steel and aluminum worth $2 billion, and other products which are worth 9.8 billion.

"The list of additional products affected by counter-tariffs include computers, sports equipment, and cast-iron products," Leblanc said at a news conference "In addition, we learned yesterday that the US tariffs would also be imposed on steel and aluminum content in certain derivative products. The government is currently assessing this aspect and may impose, of course, further tariffs in response to this measure as well.”

The 25% counter-tariffs Ottawa imposed on $30 billion of US goods March 4 was in reaction to President Donald Trump's imposition of broad-based tariffs on Canadian imports in addition to the new Canadian levies.

All imports of steel and aluminum, not only from Canada, were subject to Trump's 25% tariffs, which took effect Wednesday.

The EU quickly declared it would impose duties on more than $28 billion of US goods beginning in April.