Canada Announces Retaliatory Tariffs After U.S. Imposes New Duties

Why it matters locally: Texas's robust export industry, particularly in oil and gas, agriculture, and manufacturing, could see impacts from new tariffs between the U.S. and Canada, affecting supply chains and trade relationships with a key North American partner.

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OTTAWA — Canada announced plans to impose retaliatory tariffs next month, hours after the United States implemented new duties on Canadian products. Prime Minister Mark Carney stated Canada will match the U.S. tariffs "dollar for dollar" starting September 8. The U.S. tariffs currently apply to $20 billion worth of Canadian goods.