Canada Stands Firm on US Tariffs, Retains 25% Retaliatory Rate

Despite previous reports suggesting Ottawa might be pausing retaliatory tariffs on US goods, Canada’s finance minister François-Philippe Champagne announced the government will remain resolute. Champagne clarified that roughly $42 billion in goods from the U.S. are still subject to a 25% tariff – accounting for 70% of the total counter-tariffs imposed in March. Only certain items for ‘health and public safety’ reasons have been temporarily exempted. The statement challenges earlier research suggesting Ottawa had minimized its trade retaliation against the US.