New tariffs on Canadian imports have taken effect, with US President Donald Trump imposing a 50% levy on certain goods. The affected products range from hockey sticks to agricultural items, totaling around $20 billion in annual exports. This move is expected to impact about 5% of Canada's yearly exports to the US.

Canada's government has vowed to retaliate with "dollar for dollar" measures, set to start on September 8. No further trade talks are scheduled, escalating tensions between the two countries.

Further information on the trade dispute and its potential consequences can be found through the WSB-TV News app.