Canada has announced retaliatory tariffs on $155 billion worth of US goods in response to the 25% tariffs imposed by President Donald Trump. The move, which took effect immediately, aims to protect Canadian industries and jobs affected by the US tariffs.
According to Prime Minister Justin Trudeau, the tariffs will apply to a range of products including American beer, wine, bourbon, and fruits. Canada will also target goods such as clothing, sports equipment, and household appliances.
Trudeau warned that the tariffs would have real consequences for Americans, potentially affecting jobs and increasing costs for everyday items like food and gas. He encouraged Canadians to support domestic industries by buying Canadian products and vacationing at home rather than in the US.
The move comes amid a tense trade relationship between the two countries, with Trump’s actions sparking concerns about a potential trade war that could slow global growth and reignite inflation. Canada is also exploring non-tariff measures, including partnerships on critical minerals and energy procurement, to mitigate the impact of the tariffs.
The tariffs have significant implications for Canada’s economy, which relies heavily on trade with the US. The country exported over $550 billion worth of goods and services to the US in 2023, accounting for nearly three-fourths of its total exports.
Source: https://www.reuters.com/world/americas/canadas-trudeau-announces-counter-tariffs-2025-02-02