
Following the breakdown of trade negotiations between Washington and Ottawa on Friday evening, the United States imposed a 50% tariff on approximately $20 billion worth of Canadian products on Saturday, August 22, effective at 1:01 a.m. Eastern Time, after the Canadian government refused to finalize an agreement reached earlier in the week, according to US Trade Representative Jamieson Greer. Canadian Prime Minister Mark Carney announced the suspension of negotiations and the implementation of "dollar-for-dollar" retaliatory measures against US products, set to take effect on September 8. These US tariffs are based on Section 338 of the Tariff Act of 1930.
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