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WATCH: Canada announces retaliatory tariffs against the U.S.

Canada struck back at the United States on Tuesday with retaliatory tariffs on about $20 billion worth of American goods, including steel, dairy products, appliances and farm equipment, as the trade war between the once-friendly neighbors escalated sharply.

The potential economic fallout of Trump's trade war with Canada

The trade war between the U.S. and Canada is intensifying after negotiations broke down over the weekend. Canadian Prime Minister Mark Carney said his country had been preparing for a fundamental shift in its relationship with the U.S., which it no longer views as a reliable partner. Geoff Bennett discussed the economic fallout on both sides of the border with Peter Armstrong of the CBC.

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