Canada announces retaliatory tariffs of up to 50% against the US

Canada struck back against the US with retaliatory tariffs of up to 50% on $20 billion worth of American products on Tuesday, as a defiant Ottawa fulfilled its vow to match US duties “dollar for dollar.”

US President Donald Trump threatened to rename Lake Ontario as Lake America, as relations hit a new low, making any climbdown more onerous. Canada’s industrial minister said reprisals were intended to apply economic pressure in US states ahead of November’s midterm elections.

The breakdown in relations is an in-kind gift to Democrats in battleground states, a source close to the Trump administration told Politico. “If this gets worse, congressional Republicans… are going to be the first ones to feel it.”