Trade wars

Canada imposes tariffs worth $20bn on US goods. Trump threatens Bombardier: share price plummets

The tariff row with Washington has escalated. The trade dispute erupted in July, when Trump threatened to impose 50 per cent tariffs

FOTO D'ARCHIVIO: Il primo ministro canadese Mark Carney annuncia che il Canada ha scelto la società tedesca TKMS per la costruzione di 12 sottomarini per la propria marina militare, presso il cantiere navale HMC di Halifax, Nuova Scozia, Canada, il 6 luglio 2026. REUTERS/Ingrid Bulmer/Foto d'archivio REUTERS

2' min read

Translated by AI
Versione italiana

2' min read

Translated by AI
Versione italiana

In Canada, new tariffs on approximately 20 billion dollars’ worth of imports from the United States came into force today, 8 September, https://www.ilsole24ore.com/art/tariffs-no-agreement-US-tariffs-50 -per-cent-on-Canadian-products-AJjeGor">the latest stage in the trade escalation between the two North American countries following the collapse of bilateral negotiations last month.

Trump publishes a map of the US showing Canada, Mexico and the Caribbean

Also today, Donald Trump posted a map on his social media platform, Truth Social, showing a large part of North America and the Caribbean coloured in the colours of the US flag, in a new provocation designed to infuriate neighbouring countries.

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The drawing features not only the United States, Canada and Mexico, but also Greenland, Cuba and Iceland. Several French territories also appear under the American colours, including Martinique, Guadeloupe, Saint-Barthélemy, Saint-Martin and Saint-Pierre-et-Miquelon. Trump did not accompany the post with any comment. The map simply bears the words ‘United States of America’, whilst the Gulf of Mexico is labelled ‘Gulf of America’.

Following his return to the White House in January 2025, Trump has repeatedly stated that he wants to make Canada the “51st State” of the United States and has reiterated his ambitions regarding Greenland, an autonomous territory linked to Denmark.

“Dollar for dollar”

The new tariffs affect a range of US products, including clothing, cheese, metal components and wooden goods, and represent Ottawa’s response to the tariffs imposed by US President Donald Trump on Canadian goods.

Canadian Prime Minister Mark Carney has promised a “dollar-for-dollar” response to the US tariffs. For now, the direct economic impact may be limited, but fears are growing of a spiral of retaliatory measures that could affect households and businesses on both sides of the border.

Canadian firm Bombardier in Trump’s sights

A few hours before the new tariffs came into force, Trump took to social media to attack Bombardier, a Canadian company operating in various sectors including aeronautics, claiming that there would be “no more sales of (aircraft, ed.) Bombardier in the United States”, and accused Ottawa of hindering American banks and companies. “Buy American. Fly with American airlines. Drink American spirits and soft drinks. Sail on Lake America,” the president wrote on Truth. Bombardier’s shares plummeted by 6.4 per cent at the opening of the Toronto Stock Exchange following Trump’s threats.

The trade dispute erupted in July, when Trump threatened to impose 50 per cent tariffs on certain Canadian products if no agreement was reached. Following the breakdown of negotiations, Washington imposed tariffs on hundreds of products in August, including wine, cheese, clothing and ice hockey sticks, prompting Ottawa to take further retaliatory measures. This head-on clash is having repercussions on the stock market.

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