What to know about Trump’s 50% tariffs on Canadian goods that just went into effect - AP News

The new levies cover about 5% of Canada's annual exports to the United States, a range of products that runs from hockey sticks to agricultural goods. Trade talks collapsed before the deadline, and no further negotiations are scheduled between the two countries.

Canadian Prime Minister Mark Carney answered quickly, promising a "dollar for dollar" retaliation package set to launch September 8. That counter-punch means the dispute is likely to get more expensive before it gets cheaper.

For folks in Lubbock, the agricultural angle is the one to watch. The South Plains sits at the center of cotton, grain, and cattle country, and any disruption to cross-border agricultural trade can ripple through the supply chains that West Texas producers depend on. Groceries, farm inputs, and manufactured goods with Canadian components could all see price pressure if this standoff drags into fall.

The two countries once held one of the largest trading relationships in the world. The $20 billion in newly tariffed goods is a significant but targeted share of that total, which makes Canada's willingness to match every dollar the more pointed signal.