00:00Welcome back. Canada is hitting back at the United States with tariffs of up to 50% on
00:06American goods. The move comes in response to the latest round of tariffs imposed by
00:11President Donald Trump. The new duties will cover nearly 20 billion U.S. dollars worth
00:16of American products and take effect on September 8th.
00:22Ottawa says the tariffs are a dollar-for-dollar response to Washington's latest levies.
00:27More than 700 products will be targeted including steel and aluminium, dairy products,
00:33appliances, farm equipment, plastics and electronics. The Canadian government is also
00:38putting up a 5.4 billion U.S. dollars support package to help small and medium-sized businesses
00:44deal with the impact. The latest escalation follows the collapse of U.S.-Canada trade talks last week.
00:50Both sides blamed the other for making unreasonable demands at the last minute.
00:55Trump imposed 50% tariffs on Canadian products on Saturday affecting a similar $20 billion chunk
01:01of imports just days after the two sides announced a deal. And on Monday, Trump announced further
01:06tariffs on Canadian autos set to double existing duties to 50% from January 1st.
