The Canadian dollar has fallen to its lowest level since 2003 as a trade war between the United States and Canada heats up.
The loonie traded for 68.13 cents US on Monday morning, down from 69.04 cents US on Friday.
US President Donald Trump on Saturday imposed 25% tariffs on most Canadian imports plus a 10% tariff on energy products starting on Tuesday.
Canada is retaliating with its own 25% tariffs on up to $155 billion worth of US goods, starting with $30 billion on Tuesday.
Initially, tariffs will apply to products such as beverages, cosmetics and paper products. Further items that may be subject to tariffs include passenger vehicles, trucks and buses, steel and aluminum products, certain fruits and vegetables, aerospace products, beef, pork, and dairy products.
The Canadian government said it is also considering non-tariff options should the US continue with its “unjustified” tariffs.