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August 30, 2026

New US Tariffs on Canadian Goods Escalate Trade Tensions

  • The US has implemented a 50% tariff on approximately C$28 billion worth of Canadian goods, escalating trade tensions between the two countries.
  • In response, Canada announced counter-tariffs on American products, aiming to match the US tariffs dollar-for-dollar.
  • Economists estimate that the new tariffs could lead to the loss of up to 90,000 jobs in Canada, while also increasing costs for consumers and businesses.

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