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

Treasury Secretary Scott Bessent said on Tuesday that the 50% tariffs on a range of imports from Canada were "reciprocity" for trade actions by Ottawa on U.S. dairy, alcohol and beverages.

U.S. President Donald Trump on Monday announced tariffs on nearly $20 billion worth of Canadian goods over the northern neighbor's retaliatory tariffs on U.S. autos, steel, aluminum and liquor and its high dairy tariffs.

In an interview with Fox Business Network, Bessent accused Canada of being "highly discriminatory" on dairy products and pointed toward U.S. alcohol and beverages moved from Canadian shelves.

"This is really just reciprocity in terms of what they've done to our great U.S. companies," he told the "Mornings with Maria" program.