Canada hits back with retaliatory tariffs of up to 50% on US imports

Canada retaliates against the US with import taxes on 20 billion US dollars worth of more than 700 American products. The country's Jobs Minister announces the latest measures on Tuesday.

Patty Hajdu says, "And it's not the first time, by the way, as Melanie (Canadian Industry Minister Melanie Joly) and Francois-Philippe (Canadian Finance Minister Francois-Philippe Champagne) have talked about that we've faced these unjust tariffs and economic attacks. In fact, I'm from Northern Ontario and I can tell you that we have seen this in softwood lumbre and in pulp and paper over many, many years."

This as trade war between the once-friendly North American neighbours escalated over the weekend following Washington's imposition of 50% tariffs on Canadian goods.At the news conference, Canadian Finance Minister Francois-Philippe Champagne says he would not accept restrictions on the country's ability to choose trading partners and what they are going to be selling.

"Canada must respond, and today we are," he notes. Champagne announces the administration will match the United States tariffs "dollar for dollar, rate for rate."Effective September 8, Canada will impose counter tariffs of up to 15, 25 or 50 percent on US imports.

The new targeted taxes are concentrated in sectors like steel, appliances, farm equipment, pulp and paper and electronics, while a 7.5-billion-Canadian-dollar relief package is rolled out by the federal government for small-and-medium-sized enterprises.

The official insists Canadians will meet the moment together.

"We're talking to every Canadian, every stakeholders, because this is our moment. Standing up for our economic sovereignty is a fundamental principle."Canada's Industry Minister Melanie Joly also pans US President Donald Trump's latest branding idea of renaming Lake Ontario "Lake America."

She tells reporters: "We'll always call it Lake Ontario. We're proud of our Great Lakes."

Many local residents in the region have committed to buying only Canadian goods with some reportedly describing Trump's remarks as "laughable," "meaningless" and "more of an irritant." Meanwhile, in a New York park overlooking the lake, Americans seem to have mixed views on the matter.

A visitor from Ohio says: "I think you should care of things that matter the most to the country and quit being a baby."

Another visitor from Florida says: "I think he wants people to, he wants to open up the bigger discussion of why are they having this, this negotiations, what's going on with the negotiations. Is Canada not taking advantage of us?"