Canada Strikes Back at Trump With New Tariffs [Video]

Canada retaliated against the U.S. with new tariffs on around $21 billion of American goods after President Donald Trump imposed 25 percent tariffs on Canadian steel and aluminum Wednesday morning.

Canadian Finance Minister Dominic LeBlanc said American products affected include U.S.-made steel and aluminum, computers, sports equipment, and certain cast iron products, among others, CBC reported. They will also face a 25 percent tariff.

“We will not stand idly by while our iconic steel and aluminum industries are being unfairly targeted,” LeBlanc said.

Why it Matters

The U.S. and Canada are locked in a trade conflict that is unsettling financial markets and raising the specter of a North American recession.

Trump sees tariffs as a useful tool of American economic power, and he is happy to wield it.

He used tariffs against Canada to coerce it to do more about the cross-border trafficking of fentanyl, an illicit synthetic opioid behind hundreds of thousands of opioid …