Canada Imposes Retaliatory Tariffs on $20B of U.S. Goods

Fifty percent tariffs on billions of dollars of Canadian exports took effect on Saturday, August 22, 2026, after last-ditch trade negotiations between Canada and the United States collapsed on Friday, August 21. The new U.S. duties target a wide range of goods, including wine, furniture, dairy, wood products, and jewellery, prompting a swift and firm response from Ottawa. Prime Minister Mark Carney announced matching dollar-for-dollar retaliatory tariffs on approximately $20 billion worth of U.S. imports, set to begin on September 8. The escalation marks a significant deepening of the trade dispute, which traces back to tariffs imposed in 2025. The U.S.