Canada will continue to impose its initial $30 billion in retaliatory tariffs against the US, despite President Donald Trump’s decision to postpone 25% tariffs on many imports from Canada for a month. The move comes after Trump signed an executive order to pause some duties, but Finance Minister Dominic LeBlanc said that Canada’s first wave of response tariffs will remain in place.
Canada had planned a further $125 billion in tariffs in three weeks on American products like electric vehicles, fruits and vegetables, diary, beef, pork, electronics, steel, and trucks. However, Ontario Premier Doug Ford has stated that his province will continue to charge 25% more for electricity shipped to the US due to Trump’s tariff plan.
British Columbia Premier David Eby also announced plans to introduce legislation that would allow his province to levy fees on commercial trucks traveling from the US through British Columbia to Alaska. Canadian Prime Minister Justin Trudeau expects a trade war with the US to be in place for the foreseeable future, citing concerns over protections in Canada’s dairy industry and the ongoing tariffs.
The 25% tariffs on many imports from Canada will remain in place until Trump removes the threat of tariffs for good. The decision comes as the US and Canada engage in a trade dispute that has sent financial markets into a tailspin. Despite this, nearly a quarter of the oil America consumes per day comes from Canada, and about 60% of US crude oil imports are from Canada, making it an essential partner for the country’s energy needs.
Source: https://apnews.com/article/trudeau-trump-tariffs-trade-war-58eaa333ef96d4f17965bb7004e6bee7