In a bold move, Canadian Prime Minister Justin Trudeau announced on Wednesday the implementation of retaliatory tariffs amounting to approximately 150 billion Canadian dollars ($105 billion) on U.S. goods. This decision comes in response to threats from U.S. President-elect Donald Trump, who has pledged a 25% tariff on all Canadian exports unless Canada enhances its border security.
Trudeau convened a meeting with provincial and territorial premiers in Ottawa to address the looming tariff threats. During the discussions, he emphasized that the proposed tariffs are a strategic part of Ottawa's countermeasures to protect Canadian industries and the economy.
Following the meeting, Trudeau stated that \"nothing is off the table\" in Canada's response to potential U.S. tariffs, signaling a strong stance against the trade tensions. On the same day, Ottawa and the premiers released a joint statement highlighting their unified efforts to avert U.S. tariffs and ensure that no single region of Canada bears an undue economic burden.
However, Alberta's Premier Danielle Smith opted out of the joint statement, expressing concerns that a federal export ban on Alberta oil to the United States could trigger a \"national unity crisis.\" Despite this, the premiers reaffirmed their commitment to collaboratively support various sectors, businesses, and individuals affected by the potential tariffs.
The joint statement also outlined plans for the rapid deployment of resources to mitigate any economic impacts, including the swift distribution of revenue from the retaliatory tariffs. Moving forward, the premiers are scheduled to meet weekly following Trump's inauguration on January 20 to continuously evaluate and strengthen Canada's response strategy.
In anticipation of the administration change, Trudeau announced a Cabinet retreat on inauguration day to strategize on defending Canadian interests effectively.
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Canadian PM outlines reprisal tariffs on $105 bln worth of U.S. goods
cgtn.com
