Canada imposes retaliatory tariffs on $20 billion in U.S. goods after talks fail

Canada has announced retaliatory tariffs on about $20 billion of U.S. goods, with duties of 15% to 50% set to take effect on September 8. The measures, which target more than 700 products including steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, come after the U.S. imposed new tariffs on Canadian imports and talks between the two countries failed. The move escalates a trade dispute between the longtime allies and trading partners, and it could raise costs for businesses and consumers on both sides of the border.