Canadian Prime Minister Justin Trudeau announced plans on Wednesday to impose retaliatory tariffs covering approximately 150 billion Canadian dollars ($105 billion) worth of U.S. goods, according to local media reports. This move comes in response to tariff threats from U.S. President-elect Donald Trump.
During a meeting with provincial and territorial premiers in Ottawa, Trudeau discussed the potential impact of U.S. tariffs on Canadian exports. He emphasized that “nothing is off the table” when it comes to protecting Canada’s economic interests. The retaliatory tariffs are part of Ottawa’s planned measures to address the looming trade challenges.
Trump has threatened to impose a 25 percent tariff on all Canadian goods exported to the United States unless Canada tightens border security. In a united front, Ottawa and the premiers issued a joint statement on Wednesday, showcasing their collaborative efforts to prevent the proposed U.S. tariffs.
Trudeau and the premiers agreed that no single region of Canada should “disproportionately bear the burden” of any retaliatory measures. However, the oil-producing province of Alberta did not sign the joint statement. Premier Danielle Smith expressed concerns that an export ban on Alberta oil to the U.S. could trigger a “national unity crisis.”
The premiers are committed to working together on a comprehensive response to potential U.S. tariffs. This includes support for affected sectors, businesses, and individuals. The joint statement highlighted plans for rapid deployment of resources to mitigate economic impacts, ensuring that revenue from any retaliatory tariffs is distributed swiftly.
Looking ahead, the premiers are scheduled to meet weekly following Trump’s inauguration on January 20. Trudeau also announced a Cabinet retreat on the inauguration day to focus on defending Canadian interests amidst the evolving trade landscape.
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Canadian PM outlines reprisal tariffs on $105 bln worth of U.S. goods
cgtn.com
