Looks like the trade drama between Canada and the US just leveled up! 🎬
On Saturday, Canadian Prime Minister Justin Trudeau announced that Canada will impose 25% tariffs on C$155 billion ($106.5 billion) worth of US goods in response to President Trump's recent tariff orders. 😱
Trudeau didn't hold back during the news conference, stating that C$30 billion worth of tariffs will kick in from Tuesday, with the remaining C$125 billion rolling out in 21 days. Talk about a plot twist! 📈
Earlier, President Trump signed an executive order slapping 25% tariffs on all goods from Canada and Mexico starting Tuesday, except for Canadian energy products which will face a 10% duty. 🛢️
Trudeau warned that the upcoming weeks might be rough for Canadians and emphasized that Trump's tariffs would also hit Americans where it hurts. 💔
\"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,\" Trudeau said, directly addressing American consumers. 🛒⛽
The Canadian tariffs will target American favorites like beer, wine, and bourbon, as well as fruits and fruit juices (sorry, Florida OJ lovers!). Also on the list: clothing, sports equipment, and household appliances. 🥤👗🎾🏠
Canada is also eyeing non-tariff measures, potentially involving critical minerals, energy procurement, and other partnerships. 🧐
Trudeau encouraged Canadians to show some love for homegrown products and consider staycations instead of US trips. \"We didn't ask for this but we will not back down,\" he declared. 🇨🇦❤️
What does this mean for you? Well, get ready for some changes in the prices of everyday items and maybe rethink that cross-border shopping spree. 🛍️💸
Stay tuned as this trade tussle unfolds! 🍿
Reference(s):
Trudeau announces 25 percent tariffs in response to Trump order
cgtn.com
