![A One Hundred Dollar Confederate States of America banknote dated December 22, 1862. Issued during the American Civil War (1861–1865). Slave hoeing cotton in the center with John C. Calhoun on the left and Columbia on the right. Over 670,000 of these notes were issued from August, 1862 to January, 1863. [1] The bill is 7.375 by 3.125 inches (187 mm by 79 mm) and is thinner than a modern US dollar. Annotations on the banknote. Serial number 131615 Keatinge & Ball, Columbia, S.C. (lower left) Receivable in Payment of All Dues Except Export Duties. (lower right) Issued by Maj. James Glover, q.m. 26th January 1863 (hand written on back) Interest Paid to 1st January 1864 at Richmond. (stamped on back) The ink from this stamp can be seen on the front right side.](/assets/images/2026-08-26T00-10-11-260Z-canada-imposes-retaliatory-tariffs-on-us-goods-worth-20-billion-amid-trade-dispu-wikimedia-1280.webp)
OTTAWA — On Tuesday, August 25, 2026, Canada announced retaliatory tariffs on US goods valued at approximately US$20 billion, intensifying an ongoing trade dispute between the two historically close allies. The counter-tariffs, set to take effect on Tuesday, September 8, 2026, will impose duties ranging from 15% to 50% on around 700 US products, matching the levels of recent US tariffs.
Canada's Finance Minister Francois-Philippe Champagne stated that the tariffs will impact several industries including steel, dairy, electronics, frozen and fresh fish, consumer goods such as dishwashers and washing machines, and industrial products like railway construction materials. Under the planned response, US steel and aluminum products previously subject to a 25% duty will face 50% tariffs.
The Canadian government also announced a C$7.5 billion (US$5.4 billion) aid package to support affected firms and workers.
The latest US tariffs, imposed by President Donald Trump, target about US$20 billion in Canadian goods, representing 5.5% of Canada's exports to the United States, following the collapse of trade negotiations at the last moment.
Highlighting the escalating animosity, President Trump suggested renaming Lake Ontario as "Lake America," renewing his controversial push for Canada to become the 51st US state.
Economic analysis from Oxford Economics indicated that manufacturers in Quebec, New Brunswick, and Ontario will be the most affected by the tariffs.
This development marks a significant escalation in the trade tensions between Canada and the United States, with both sides imposing substantial tariffs and countermeasures.
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