Looks like the trade dance between Canada and the U.S. just got a new beat! 🎶 On Saturday, Canadian Prime Minister Justin Trudeau announced that Canada will impose a hefty 25% tariff on C$155 billion ($106.5 billion) worth of U.S. goods. Talk about a plot twist! 😲
Starting this Tuesday, C$30 billion in tariffs will kick in, with the remaining C$125 billion following in 21 days. This bold move comes in response to U.S. President Trump's executive order slapping 25% tariffs on all goods from Canada and Mexico, also starting Tuesday. But hold up—Canadian energy products will face a 10% duty instead.
Trudeau didn't hold back, warning that the upcoming weeks might be tough for Canadians, but he also highlighted that Trump's tariffs would swing back to hit Americans where it hurts.
Addressing our neighbors down south, Trudeau said, \"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.\" 🛒⛽
Canada's tariffs are set to target American favorites like beer, wine, bourbon, and even orange juice from Trump's home state of Florida! 🍺🍷🍊 Plus, goods like clothing, sports equipment, and household appliances are on the list.
That's not all—Canada is eyeing non-tariff measures too, potentially involving critical minerals, energy procurement, and other partnerships. Trudeau is encouraging Canadians to support local by buying Canadian products and choosing to vacation at home instead of in the U.S. 🇨🇦❤️
\"We didn't ask for this but we will not back down,\" Trudeau declared. 💪
Looks like this trade showdown is heating up! Stay tuned for more updates on how this might affect you and the global economy. 🌎🔥
Reference(s):
Trudeau announces 25 percent tariffs in response to Trump order
cgtn.com
