The S&P/TSX Composite Index fell more than 0.5% to trade below 36,500 on Tuesday as Canada’s retaliatory tariffs on US goods took effect. The counter-tariffs cover $20 billion of US goods, with duties ranging from 15% to 50% on products including steel, furniture, clothing and electronics. The US tariffs implemented last month targeted sectors including wine, furniture, dairy products, cement, clothing, fishing rods and hockey equipment, covering $20 billion, or 5%, of Canadian exports to the US. Meanwhile, US President Trump said on Monday that Bombardier (-3%) would not be allowed to sell its planes in the US unless it started manufacturing in the country. Saputo shed about 0.5%, while Dorel lost more than 0.5%. Also weighing on the TSX, crude prices climbed after Saudi Arabia reported attacks that halted operations at several energy facilities. Fears of energy disruptions and energy-driven inflation increased rate hike expectations in Canada and the US, weighing on major banks.