According to CoinMeta, Canadian Prime Minister Marc Trudeau announced on Saturday that due to the breakdown of trade negotiations, Canada will impose "dollar-for-dollar" retaliatory tariffs on U.S. goods. This move comes after the United States imposed 50% tariffs on Canadian goods worth approximately $20 billion. Trudeau stated that these tariffs will take effect on Tuesday following next month's Labor Day, and they will mainly target industries such as steel, dairy products, paper, electronics, household appliances, and agricultural equipment.