Ottawa, Canada — In a bold move on Saturday, Canadian Prime Minister Justin Trudeau announced that Canada will impose 25% tariffs on 155 billion Canadian dollars (106.5 billion USD) worth of U.S. goods. This decision comes as a direct response to U.S. President Donald Trump's executive order imposing tariffs on Canadian and Mexican imports.
\"We didn't ask for this, but we will not back down,\" Trudeau declared during a news conference. He specified that 30 billion CAD in tariffs will take effect starting Tuesday, with an additional 125 billion CAD following in 21 days.
Earlier, President Trump signed an order implementing a 25% tariff on all goods from Canada and Mexico, set to begin on Tuesday. Canadian energy products were given a slight reprieve, facing a 10% duty instead.
Impact on Both Sides of the Border
Trudeau warned of difficult weeks ahead for Canadians, emphasizing that the tariffs would not only affect Canada but also have significant repercussions for American consumers. Addressing the American public directly, he stated, \"They will raise costs for you, including food at the grocery store, gas at the pump. They will impede your access to an affordable supply of vital goods.\"
The Canadian tariffs are set to target a wide array of American products, including beer, wine, bourbon, fruits, and fruit juices — notably orange juice from Florida, President Trump's home state. Other goods on the list include clothing, sports equipment, and household appliances.
Exploring Further Measures
Beyond tariffs, Canada is considering additional non-tariff measures. Trudeau mentioned potential actions related to critical minerals, energy procurement, and other bilateral partnerships. These measures aim to exert pressure while exploring avenues for negotiation.
In a call to action, Trudeau encouraged Canadians to support their national economy. \"Buy Canadian products and consider vacationing at home rather than in the U.S.,\" he urged citizens, highlighting the importance of unity and resilience in the face of trade challenges.
A Pivotal Moment in Trade Relations
This escalation marks a significant moment in North American trade relations, with potential ripple effects across global markets. Business professionals, investors, and market analysts are closely monitoring the situation for developments that could impact economic trends and business opportunities in the region.
As both nations brace for the impact of these tariffs, stakeholders on both sides of the border are hopeful for a resolution that will restore mutually beneficial trade relations.
Reference(s):
Trudeau announces 25 percent tariffs in response to Trump order
cgtn.com
