The trade war is on between Canada and the U.S. Here’s what you need to know

News Snapshot:

TORONTO — A trade war between Canada and its largest trading partner has begun, with tariffs imposed by U.S. President Donald Trump now in effect and Prime Minister Justin Trudeau responding with a package of retaliatory tariffs. Stocks are tumbling, businesses are warning of impending layoffs and further measures from both countries are likely in the coming days. What does this all mean for you? Here's a look at some of the key questions. What is a tariff? Tariffs are a tax on imported goods. Like other taxes, they’re generally used by governments to help meet policy objectives and raise...