A trade war between the US and Canada is deepening after last-minute efforts to reach an agreement failed. The failure of negotiations led to the imposition of 50% tariffs on Canadian products valued at approximately $20 billion.

Canada is preparing to respond with equivalent tariffs, on a "dollar for dollar" basis, starting September 8. US companies have a few options to deal with the tariffs, including stopping imports of affected products, paying the high tariffs, or changing suppliers.

Further details on the trade war and its potential impact are available from the source, including information on the products that may be affected by the tariffs.