In a bold move this Saturday, Canadian Prime Minister Justin Trudeau announced that Canada will impose a 25 percent tariff on C$155 billion ($106.5 billion) worth of U.S. goods. This retaliation comes after former U.S. President Donald Trump signed an executive order imposing similar tariffs on Canadian and Mexican imports.
The new tariffs will be rolled out in two phases: C$30 billion will take effect starting Tuesday, followed by an additional C$125 billion in just 21 days. Trudeau emphasized the widespread impact of these measures, stating that the upcoming weeks will be challenging for Canadians while also affecting Americans.
Addressing an American audience, Trudeau warned, \"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 tariffs target a variety of products, including American beer, wine, bourbon, fruits and fruit juices like Florida's famous orange juice, as well as clothing, sports equipment, and household appliances.
Beyond tariffs, Canada is exploring non-tariff measures related to critical minerals, energy procurement, and other strategic partnerships. Trudeau urged Canadians to support local businesses and consider staying home for vacations instead of traveling to the U.S., reinforcing his stance with the words, \"We didn't ask for this but we will not back down.\"
Stay tuned to amigonews.net for more updates on this developing story and its impact on global trade.
Reference(s):
Trudeau announces 25 percent tariffs in response to Trump order
cgtn.com
