Things just got real in the North American trade scene!
Canadian Prime Minister Justin Trudeau just announced that Canada is slapping a hefty 25% tariff on C$155 billion ($106.5 billion) worth of U.S. goods in response to President Trump's new trade orders.
\"We didn't ask for this, but we will not back down,\" Trudeau declared at a news conference on Saturday. Starting Tuesday, C$30 billion worth of tariffs will kick in, with another C$125 billion following in 21 days. Time to brace yourselves, folks!
So what's the tea? Earlier, Trump signed an executive order imposing 25% tariffs on all goods from Canada and Mexico, except Canadian energy products, which will face a 10% duty. Talk about a plot twist!
Trudeau warns that these moves will make the coming weeks tough for Canadians—and Americans won't be spared either. Addressing our neighbors down south, he 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.\"
The new Canadian tariffs target all sorts of American goodies—from beer, wine, and bourbon to fruits and juices, including that sweet orange juice from Trump's home turf in Florida.
Also on the list: clothing, sports gear, and household appliances. Looks like shopping sprees might get a bit pricier!
But wait, there's more! Canada is also eyeing non-tariff measures, possibly involving critical minerals, energy procurement, and other partnerships.
Trudeau is rallying Canadians to support local businesses and enjoy staycations at home instead of heading to the U.S. \"Buy Canadian\" just got a whole new vibe!
This trade tango is heating up, and it's anyone's guess where it might lead. Stay tuned, and let's hope cooler heads prevail!
Reference(s):
Trudeau announces 25 percent tariffs in response to Trump order
cgtn.com