After US president Donald Trump announced a 50 per cent tariff on Canada, Prime Minister has stated that Ottawa will respond with a “dollar for dollar” tariffs in retaliation.
Trump’s announcement of fresh tariffs on Canada came after the US president announced that the trade talks between the two neighbors had failed.
Canada ‘attacked’ with US tariffs
Calling the imposition a “attack,” Canadian PM Carney stated that the US tariffs will be matched “” in order to protect Canada’s interests and economy.
“Canada will match Washington’s new tariffs dollar for dollar in order to protect Canadian workers, farmers, families, and businesses,” Carney said during a press conference.
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Speaking on the fallout, US trade representative Jamieson Greer called the failed talks a “missed opportunity for Canada.”
“We’re moving forward with measures that respond to Canadian retaliation. They’ve always had the best deal, and they still would have an even better deal, but they didn’t want that,” Greer told Fox news.
How is Canada retaliating to the US tariffs?
Canada has announced it will impose tariffs on US steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, and other products the US previously targeted in Canada.
This comes as Trump’s tariffs will hit sectors including wine, furniture, dairy products, cement, clothing, fishing rods and hockey equipment.
The Canadian leader also met with Premiers of states to discuss the suspension of trade negotiations and steps to protect Canada.
“Prime Minister Carney underscored that Canada is strongest when governments stand together. To this end, he emphasised continued collaboration with provincial and territorial governments, noting that the Team Canada approach has been essential in navigating the challenging times since the start of this trade war,” said a statement issued from the Prime Minister’s office.
The tariffs will come into effect on Tuesday, after Labour Day in Canada.
The Carney administration will release the details of the sectors hit by retaliatory tariffs later in the week.
