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ARTICLE · 28 AUGUST 2026

Canada Retaliates – Counter-Tariffs Create Risks And Opportunities For Canadian Businesses

McMillan LLP
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Canada has announced retaliatory tariffs on $27.6 billion worth of U.S. imports, targeting steel, dairy, appliances, and other key sectors in response to the latest U.S. tariffs. The counter-tariffs, ranging from 15% to 50%, will take effect on September 8, 2026, creating both challenges for Canadian importers and opportunities for domestic manufacturers to capture greater market share.

GlobalInternational Law
William Pellerin
William Pellerin
Wolfgang Alschner
Wolfgang Alschner
Rini Rashid
Rini Rashid
Jan M. Nitoslawski
Jan M. Nitoslawski
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Summary

On August 25, 2026, Canada announced the list of goods that will be subject to tariffs in retaliation against the latest round of US tariffs. Canada’s tariff list, affecting some $27.6 billion in imports, focuses on those sectors most affected by the US tariffs, namely: steel, dairy, appliances, agricultural equipment, furniture, pulp and paper, and electronics.

The retaliatory tariffs apply at a rate of either 15%, 25% or 50%. The targeted items fall into the following key product categories:

  • Fish and seafood products – 25% tariffs on a wide variety of fisheries products.
  • Dairy products – 50% tariffs on powdered milk and whey products, and cheeses, including those imported within TRQ access commitments.

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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