00:00Welcome back. Canada has started imposing new tariffs on U.S. goods, escalating a trade dispute between two of North
00:08America's biggest economies.
00:10The measures target around US$20 billion worth of American products and come after talks between Ottawa and Washington collapsed
00:18last month, despite both sides appearing close to a deal.
00:23Canada's retaliatory tariffs took effect on Tuesday, with duties of 15%, 25%, and 50% on American goods covering steel
00:32and aluminium, furniture, clothing, as well as dairy goods such as cheese.
00:37But Canada has removed some seafood products from the initial list.
00:41The measures are expected to hit U.S. exporters particularly hard in states such as Michigan and Ohio, which do
00:48a lot of business with Canada.
00:50The move could also have political consequences for U.S. President Donald Trump, with some of the hardest-hit states
00:57are also key battlegrounds for midterm elections in November.
01:01For Canadian Prime Minister Mark Carney, it is a calculated risk.
01:05A year ago, Carney removed many of the counter-tariffs imposed by his predecessor Justin Trudeau.
01:11But with trade talks now stalled, Canada has chosen to push back against Trump.
01:16U.S. administration officials have repeatedly warned that Washington will not tolerate retaliation and have pointed to Canada and China
01:24as the only two countries currently using counter-tariffs.
01:28The latest escalation follows weeks of negotiations to lower trade tensions between the two countries.
01:34Both sides had appeared to agree on the broad terms of a deal and Trump even announced a preliminary agreement
01:40on August 18th.
01:42But the deal fell apart just days later.
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