The U.S. has enacted tariffs of 25% on goods from Canada and Mexico, initiating a trade war. Canada retaliates with its own 25% tariffs on U.S. goods, totaling $30 billion, with more to follow. Prime Minister Trudeau vows to protect Canada’s economy amidst ongoing tariff discussions and further measures from the U.S. government.
The implementation of significant U.S. tariffs on goods from Canada and Mexico has officially commenced, initiating a trade conflict between these longstanding North American allies. As of now, a 25% tariff is applied to all incoming goods from both countries, alongside a 10% tariff targeting Canada’s energy exports.
In retaliation, Canada has established a 25% tariff on $30 billion worth of U.S. imports, with plans for further tariffs on an additional $125 billion in U.S. products within three weeks. Prime Minister Justin Trudeau emphasized, “Canada will not let this unjustified decision go unanswered.”
Trudeau assured that Canadian tariffs would remain until the U.S. reconsiders its trade measures, stating that discussions with provincial and territorial leaders regarding non-tariff strategies are ongoing. He maintained that Canada is committed to protecting its economy and securing fair treatment for workers.
President Donald Trump enacted these tariffs following an executive order on February 1, intending to address issues related to illegal immigration and the influx of fentanyl. Although the tariffs were initially postponed for thirty days due to new border security commitments from Canada, they were ultimately enforced on Tuesday.
Canada is preparing for additional rounds of tariffs as indicated by the Trump administration, including 25% duties on all steel and aluminum imports set to begin on March 12. Furthermore, the administration announced global reciprocal tariffs targeting all trading partners, including Canada, scheduled for April 2.
In summary, the imposition of tariffs by the United States on Canada and Mexico has sparked a significant trade war, with Canada promptly responding through its own tariffs. The ongoing negotiations and potential for further tariffs reflect the critical nature of trade relationships between these nations. Prime Minister Trudeau’s commitment to addressing this economic challenge highlights Canada’s dedication to protecting its market interests and seeking fair agreements.
Original Source: globalnews.ca
