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Canadian Prime Minister Mark Carney and U.S. President Donald Trump. (Andrej Ivanov/AGP/Getty Images; Saul Loeb/AFP/Getty Images)

Canada announces retaliatory tariffs on U.S. products as trade war deepens

 What to know

Canada announced new tariffs of up to 50 percent on hundreds of American goods in retaliation for U.S. tariffs. Starting Sept. 8, Canada will double tariffs on American steel and aluminum to 50 percent and impose tariffs on around 700 other products. Canadian Prime Minister Mark Carney had promised these measures in response to U.S. tariffs that affected 5 percent of Canadian imports.

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