“Of course, Canada will respond to unfair tariffs in many ways, just as we did eight years ago, and we are still searching for the most appropriate responses,” said the Prime Minister. Trudeau spoke on December 9.
The Canadian leader said Americans are gradually realizing that tariffs on goods from Canada will make their lives much more expensive.
Mr. Trump spoke with Canadian Prime Minister Justin Trudeau in England in 2019
Late last month, President-elect Trump announced he would impose 25% tariffs on imports from Canada and Mexico unless these countries did more to stem the flow of migrants and illegal drug trafficking. at the border into the US. After this move, Canadian Prime Minister Trudeau quickly went to Florida (USA) and met with President-elect Trump.
There, Mr. Trump and Mr. Trudeau discussed trade and the border. According to The Wall Street Journal Quoting people present at the meeting, the Canadian leader also expressed the impact of tariffs on the Canadian economy with Mr. Trump.
China, Mexico, and Canada warned after Mr. Trump threatened to increase tariffs on his first day in office
“I’m a big believer in tariffs… All I want to do is, I want to have a level playing field, fast but fair,” President-elect Trump shared in an interview with NBC on December 8.
During his first term, Mr. Trump imposed tariffs of 25% on steel and 10% on Canadian aluminum imports. At that time, Canada retaliated by imposing a 25% tariff on US steel and 10% aluminum, and also imposed a 10% tariff on many other Washington consumer goods. Those tariffs were repealed in 2019 following a deal between the US and Canada.
The US and Canada have one of the largest trading relationships in the world. Nearly three-quarters of Canada’s total exports go to the United States. Forecasting firm Oxford Economics calculates that a 25% tariff, along with retaliatory tariffs from Ottawa, would trigger a recession in Canada.
