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Firms In Canada, US Brace For Tariff Fallout
BBC News··24 Aug
Trade talks between the US and Canada collapsed over the weekend, with both countries pledging 50 percent tariffs on each other's goods. US tariffs took effect Saturday on Canadian wine, dairy, cement, clothing and hockey equipment, covering about 20 billion dollars of exports. Canada plans matching levies from September 8 on US steel, dairy, appliances and electronics.
Prism
What It Means For You
- If you buy Canadian goods like wine, dairy or clothing, higher tariffs could push up prices at US stores.
- Small business owners on both sides say the sudden tariffs, without warning, leave little time to adjust supply contracts.
- Shoppers and sellers near the border are already seeing reduced customer traffic tied to the trade dispute.
What's Happening
- US tariffs of 50 percent took effect Saturday on Canadian wine, dairy, cement, clothing and hockey equipment.
- Canada plans matching dollar-for-dollar tariffs on US steel, dairy, appliances and electronics starting September 8.
- Business owners on both sides told the BBC they expect major sales losses and rising costs.
How Deeply Tied the US and Canada Trade
- About 70 percent of Canada's exports go to the US, making it especially exposed to any escalation.
- The current dispute follows a pattern of on-again, off-again tariffs since Trump returned to office in 2025.
- The US tariffs apply to about 20 billion dollars of Canadian exports, roughly 5 percent of what Canada ships annually.
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