×
Home National Politics Business Bangladesh International Sports Entertainment Law & Justice More News Capital News Health Features Business Icon Technology Media Features Economy Education Literature Quran & Hadish Photo Gallery Editorial Religion Tours & Travels Tourism Guide Editors Corner Campus Youth Popular Organizations Country Wide Life Style Jobs Prism Notice History & Culture Messages Op-ed Wildlife Activities Foreign relation Accident Environment Asia Videoes Analysis Energy Book Reviews Literature Others KSA Arab World Cricket Football More Banking Corporate Global economy Real Estate Entrepreneur Start-up Telecom Summit Travel Art and Culture Food Book Fourth Estate View Letters to Editor Political Icon Diplomat Scholarship Career Job
☰
Thursday 5th of November 2026 E-paper
* Political conspiracy behind violence in garment sector: Home Minister   * ট্রাম্পের ক্ষমতার মসনদে বড় ধাক্কা, কোন পথে যুক্তরাষ্ট্র   * Gazipur secured by 25 platoons of BGB   * Zelensky says dozens dead, missing in Russian attack days before US talks   * ট্রাম্পকে হত্যার হুমকি দিয়ে ইরানে বিশাল বিলবোর্ড   * সাতসকালে রাজধানীতে বাস-অটোরিকশা সংঘর্ষে নিহত ৪   * প্রতিনিধি পরিষদে বিপুল ব্যবধানে এগিয়ে ডেমোক্র্যাটরা, সিনেটেও দাপট   * গ্রীষ্মের আগেই গ্রিডে যুক্ত হবে ৩-৪ হাজার মেগাওয়াট সৌরবিদ্যুৎ   * Stolen watch worth $290,000 returned to Japan store with sorry note   * Short circuit ignites devastating fire in Sunamganj village  
   Business
  Canada unveils counter-tariffs of 15-50% on US goods

(BSS/AFP) - Canada on Tuesday announced counter-tariffs on US goods ranging between 15 and 50 percent, intensifying the trade war between the historically close allies.

Ottawa`s retaliation will take effect September 8, a timeframe earlier outlined by Prime Minister Mark Carney after US President Donald Trump`s 50-percent duties came into place Saturday.

The retaliatory tariffs of 15 percent, 25 percent or 50 percent match US levels, said Canada`s Finance Minister Francois-Philippe Champagne. They impact industries including steel, dairy and electronics.

The list includes frozen and fresh fish, consumer goods like dishwashers and washing machines, as well as industrial products including railway construction materials.

Canada`s government also announced a $5.4 billion (CA$7.5 billion) aid package for firms and workers.

"This is an unprecedented challenge imposed on Canada. But Canada will meet the moment," Champagne added. "I think what Canadians can see this morning is that we stand united."

Industry Minister Melanie Joly echoed Champagne`s call for Canadians to support local businesses, vowing to work with new allies and trading partners.

She also pledged to "fight back" if Trump raised US tariffs on Canadian autos to 50 percent.

- Tit-for-tat? -

Trump`s latest tariffs hit about $20 billion in Canadian goods -- or 5.5 percent of its exports to the United States -- after trade negotiations collapsed at the eleventh hour.

Under Canada`s planned response, US steel and aluminum products previously subject to a 25-percent duty will soon face 50-percent tariffs.

Goods facing 25-percent tariffs include appliances, dairy products like cheese, as well as certain steel and aluminum derivative products.

A small category will see a 15-percent duty, including electric equipment and tools.

These form about 7.3 percent of Canada`s imports from the United States at 2024 levels.

But analysts warn of tit-for-tat escalation.

Already on Monday, Trump pledged to double tariffs on Canadian autos starting 2027, up to 50 percent from the current 25 percent for non-US content.

Ontario Premier Doug Ford criticized Trump`s threat, saying he could "kiss my ass" and threatening an electricity export surcharge.

Trump lashed out at Ford and also referred to Carney as a "governor," re-upping his inflammatory push for Canada to become the 51st US state.

Highlighting the animosity, Trump said Tuesday he was considering renaming Lake Ontario as "Lake America."

The fresh US tariffs do not exempt products under the US-Mexico-Canada free trade agreement. They raise the US effective tariff rate on Canadian exports to 6.9 percent from 5.1 percent, Oxford Economics estimates.

Tariffs on plastics, electrical machinery, and wood and paper products contribute most to the increase.

"Manufacturers in Quebec, New Brunswick, and Ontario will be affected the most," Oxford Economics said.

- Threats to culture -

The exchanges drew some concern in the United States. Ethan Johnson, 25, who runs a start-up, told AFP: "The economics and the math behind it do not make sense."

But 29-year-old electrician Lucas Feser trusts the Trump administration "to set up a harder, better deal."

Carney previously said US negotiators sought restrictions on Canadian trade deals with other countries at the last minute.

US officials made unacceptable "threats" to the French language and "Quebec culture" too, he added, referring to eastern Canada`s French-speaking province.

Trump pushed back Tuesday, saying on Truth Social that he would "never interfere with Canadians speaking French." He accused Carney of lying for political support.

The United States is Canada`s biggest trading partner. Canadian exports to its neighbor represent 70 percent of its overall total.

Canada is the second-biggest US trading partner in goods this year behind Mexico.

Polling released Sunday by the Angus Reid Institute showed Canadians broadly support Carney`s move to walk away from talks, but some fear economic repercussions.

The White House had alleged "discriminatory treatment" by Canada against US alcohol, automobile and dairy products in rolling out new tariffs.



  
Share Button
  

    
Green Transition Working Group launched to boost green financing for SMEs
.............................................................................................
Spain-Bangladesh Expo opens in Seville, eyes trade boost
.............................................................................................
Imports, LCs rise ahead of Ramadan; supply outlook positive
.............................................................................................
Oil tanker on fire after hitting mine in Hormuz: Iran`s Guards
.............................................................................................
China growth narrowly beats forecasts
.............................................................................................
Banks, stock markets to remain closed for 5 days from Tuesday
.............................................................................................
DBBL holds Strategic Conclave for Rajshahi and Rangpur Regions
.............................................................................................
Govt approves LNG purchases from five international suppliers
.............................................................................................
Talks underway with World Bank for additional $10b in assistance: Khosru
.............................................................................................
Bangladesh Fintech awards honour 21 financial innovations
.............................................................................................
DBBL holds Strategic Conclave for Noakhali and Cumilla Regions
.............................................................................................
Comfystyle Opens First Flagship Outlet in Banani, Eyes Nationwide Expansion
.............................................................................................
Oil rises and stocks fall as Hormuz worries flare
.............................................................................................
Dutch-Bangla Bank holds strategic conclave for Barishal region
.............................................................................................
Bangladesh, Pakistan move to deepen textile and apparel trade ties
.............................................................................................
 realme is set to launch its new C-Series smartphone promising all-round usability
.............................................................................................
Oil down, but stocks lower as bond yields rise
.............................................................................................
Govt takes initiative to reopen jute mills, create 50,000 jobs
.............................................................................................
Bangladesh Trade Mission eyes export, investment boost in Saudi Arabia
.............................................................................................
Sammilito Islami Bank holds14th Board Meeting
.............................................................................................
Pakistan Exhibition to showcase business opportunities for Bangladesh
.............................................................................................
SammilitoIslami Bank’s Subsidiary EIIL Gets New Body
.............................................................................................
JICA seminar focuses on development cooperation amid global challenges
.............................................................................................
Betancourt family retains majority share in firm at heart of US-Venezuela oil deal
.............................................................................................
US market sees record 25.65pc growth in Bangladesh RMG exports in August
.............................................................................................
Asian stocks stutter as traders prepare for Fed decision
.............................................................................................
From potato chips to silicon chips: lobbies cover all in Brussels
.............................................................................................
Allegations of Favoring Specific Quarters: Threat of New Action if Demands Aren`t Met BARVIDA Demands Reinstatement of Used EV Import Rights with Oversight Mechanisms
.............................................................................................
Prof. Md. Maksudur Rahman Sarker FCMA Elected New Chairman of SBAC Bank
.............................................................................................
Crude pushes towards $100 on Mideast flare-up, fanning inflation fears
.............................................................................................
Japanese shipping giant MOL eyes investment in Bangladesh’s Ship Recycling Sector
.............................................................................................
Dollar rallies after Fed chief lifts rate expectations
.............................................................................................
French economy stalls in Q2, inflation speeds up
.............................................................................................
Stocks edge higher as oil drops on fresh Mideast hopes
.............................................................................................
Canada unveils counter-tariffs of 15-50% on US goods
.............................................................................................
Stocks stagger and oil rises as traders eye Iran threat, Nvidia results
.............................................................................................
Chinese traders eye on Bangladeshi fruits, farm products at Kunming festival
.............................................................................................
Japan July core inflation accelerates to 1.8%
.............................................................................................
Connecting Bangladesh to the World: Yes Aviation Marks Its Grand Entry
.............................................................................................
Policy reform must translate into action to restore investor confidence
.............................................................................................
Oil spill off Oman reaches coastline: state media
.............................................................................................
Dow hits fresh record as oil prices tumble
.............................................................................................
USBCCI celebrates America’s 250th anniversary styled “Celebrating 250 Years of Service & Beyond-America 250”
.............................................................................................
Crude jumps on fresh Mideast flare-up, tech rout deepens
.............................................................................................
Asia stocks slide on China chip breakthrough report
.............................................................................................
Oil down more than 5% on renewed hopes for US-Iran deal
.............................................................................................
Expats send $2.3bn remittances in 25 days of July
.............................................................................................
US unveils new tariffs on 60 partners as Trump rebuilds trade agenda
.............................................................................................
Tesla shares fall as Musk touts ambitious -- and costly -- plans
.............................................................................................
Brent crude passes $92 a barrel, highest price since June
.............................................................................................
Chief Advisor: Md. Tajul Islam,
Editor & Publisher Fatima Islam Tania and Printed from Bismillah Printing Press, 219, Fakirapul, Dhaka-1000
Editorial Office: 219, Fakirapul (1st Floor), Dhaka-1000.
Phone: 02-41070996, Mobile: 01720090514, E-mail: muslimtimes19@gmail.com
2022 @ All Right Reserved By www.themuslimtimes-bd.com