Canada announces retaliatory tariffs on the U.S. as the countries' trade fight deepens

Canadian Prime Minister Mark Carney speaks about the trade dispute with the United States at the Davie Shipyard in Levis, Quebec, Canada, on Monday. Andrej Ivanov/AFP via Getty Images hide caption

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Andrej Ivanov/AFP via Getty Images

Canada announced retaliatory tariffs on U.S. goods on Tuesday as the two countries fell deeper into a trade fight.

Canadian Finance Minister François-Philippe Champagne said the government's countermeasures would match U.S. tariffs "dollar for dollar, rate for rate," hitting U.S. exports including steel and appliances. Canada's tariffs will take effect Sept. 8, he said.

The move comes after President Trump imposed 50% tariffs on many Canadian goods and threatened more after trade talks broke down on Friday.

This is a developing story that will be updated.