New Delhi, Aug. 25 -- Canada on Tuesday (August 25) announced retaliatory tariffs on C$27.6 billion ($19.94 billion) worth of US goods, matching Washington's latest duties dollar-for-dollar as the trade dispute between the two neighbours escalates.

The new Canadian tariffs will take effect on September 8 and will impose duties of 15%, 25% and 50% across around 700 products imported from the United States, according to a government statement.

The move follows US President Donald Trump's decision to impose new 50% tariffs on about $20 billion of Canadian imports from Saturday, after talks between the two countries failed to avert the measures.

Alongside the retaliatory tariffs, Ottawa announced a C$7.5 billion package of new and enhanced...