Canada hits U.S. with retaliatory tariffs of up to 50%

Canada struck back Tuesday at the United States 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 confrontation threatened one of the world’s largest trading relationships and further strained ties between the United States and a country long considered one of its closest allies. A prolonged dispute could raise costs for U.S. businesses…