US imposes 50% tariffs on $20B worth of Canadian products

The United States imposed 50% tariffs on $20 billion worth of Canadian products early Saturday, and Canada immediately said it would retaliate, after last-ditch negotiations failed to resolve the latest strain in already tense relations between the historic allies, Report informs via AP.

President Donald Trump's import taxes will hit about 5% of what Canada ships to the United States every year, including products ranging from hockey sticks to tongue depressors.

"Canada will match those tariffs dollar for dollar to protect our workers and businesses," Canadian Prime Minister Mark Carney said in a statement. The retaliation escalates the trade conflict and calls into question the future of a North American trade pact between the United States, Canada and Mexico that is crucial to industry in all three countries.

Canada sought concessions on Trump tariffs on steel, aluminum, autos and lumber that the United States was unwilling to provide, a senior Trump administration official told reporters.