The U.S. government has imposed a 50% tariff on Canadian goods. In response, Canada will levy retaliatory tariffs ranging from 15% to 50% on over 700 U.S. products, totaling $20 billion, starting September 8. Atsi Sheth, Chief Credit Officer at Moody's Ratings, stated that uncertainty is the keyword currently, and this uncertainty is expected to persist for some time. Analysts believe the new tariffs will negatively impact the automotive industry, while U.S. steel companies may benefit.