US Treasury's Bessent tells Fox Business 50% Canada tariffs are 'reciprocity'

U.S. Treasury Secretary Scott Bessent said the U.S. will apply 50% tariffs on a range of imports from Canada, framing them as “reciprocity” for Canada’s trade actions affecting U.S. dairy, alcohol, and beverages. The move signals an escalation in trade friction that may pressure cross-border supply chains and input costs.