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Canada's prime minister said he was "reluctantly" announcing retaliatory tariffs as he accused the US of starting a trade war.
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After roughly two decades of ultralow interest rates, a period of rapid readjustment is ahead for the United States, the world's largest economy and most important financial system.
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The United States imposed 50% tariffs on $20 billion worth of Canadian products early Saturday, and Canada immediately said it would retaliate, after last-ditch negotiations failed.
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