business ๐ US slaps 50% tariffs on $20B of Canadian goods
The United States imposed 50% tariffs on $20 billion worth of Canadian products on Saturday, August 22, 2026. This action was taken by the US against Canada, following the failure of last-ditch negotiations between the two allies. The tariffs will affect about 5% of what Canada ships to the US annually, leading Canada to threaten an equal retaliation. Canadian Prime Minister Mark Carney stated that the US's last-minute changes made the deal unfair and uneconomic. Both countries now face a major trade conflict that questions the future of the North American pact. ๐