Canada's Bold Move: New Tariffs Could Spike Prices by 50%

Get ready to pay more for Canadian imports — and not just maple syrup and hockey sticks.

As the trade war between Canada and the US escalates, items like steel, aluminum, wool and lumber will spike in price this week thanks to retaliatory tariffs on over $20 billion worth of goods. The move went into effect just after midnight on Tuesday.

Canada’s counter-tariffs were first announced two weeks ago after negotiations with the US reached a stalemate. Just days before, the Prime Minister told the world Canada was “at war” with the US.