Canada Begins Tariffs Attacks on U.S. Economy

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Canada will impose 25% levies on U.S. goods in retaliation for President Donald Trump’s new tariffs. Prime Minister Justin Trudeau stated that President Donald Trump’s actions would have tangible repercussions for them regarding imports.

Trudeau announced at a press conference that he was imposing tariffs on C$155 billion ($107 billion) worth of U.S. goods as ties between the longstanding allies who share the longest land border in the world hit a new low. S. products.

He stated that duties on the remaining C$125 billion will be imposed in 21 days, while those on C$30 billion will go into effect on Tuesday, the same day as Trump’s tariffs.

Trudeau issued this statement after Trump threatened to impose a trade war that could slow global growth and rekindle inflation by imposing 25% tariffs on imports from Canada and Mexico and 10% on goods from China. Trump declared that all Canadian energy imports would be subject to a 10% tariff.

According to the Canadian leader, American wine, beer, bourbon, and fruits and fruit juices—including orange juice from Trump’s home state of Florida—will all be subject to tariffs.

Canada would also target home appliances, sporting goods, and clothing.

Trudeau claimed that while the upcoming weeks would be challenging for Canadians, Trump’s actions would also negatively impact Americans. Trudeau stated, “Tariffs against Canada will put your jobs at risk, potentially shutting down American auto assembly plants and other manufacturing facilities.”. S. citizens at an Ottawa press conference.

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Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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