Canadian Prime Minister Justin Trudeau has announced retaliatory tariffs against the US in response to President Donald Trump's recent tariffs on Canadian imports. Trudeau stated that Canada will impose a 25% tariff on American goods, with some taking effect as early as Tuesday and others within three weeks.
Trudeau's Announcement
During a press conference, Trudeau declared, "Tonight, I am announcing Canada will be responding to the US trade action with 25% tariffs against $155 billion worth of American goods." He further explained that immediate tariffs on $30 billion worth of products will be implemented on Tuesday, followed by additional tariffs on $125 billion worth of American goods in 21 days. This delay is intended to allow Canadian companies and supply chains to explore alternative options.
Trump's Tariffs and Justification
Trump's decision to impose 25% tariffs on Canadian imports stems from his campaign promise to address the fentanyl crisis. However, a 2022 congressional report revealed that Canada is not a significant source of fentanyl or other synthetic opioids entering the United States. Despite this, the tariffs were put into effect.
Both the Trump administration and Trudeau's office have yet to provide a comment in response to inquiries from Business Insider.
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By: ktangalakislippert@businessinsider.com (Katherine Tangalakis-Lippert)
Title: Justin Trudeau Imposes 25% Retaliatory Tariffs on US Goods Following Trump’s Actions
Sourced From: www.businessinsider.com/trudeau-canada-retaliatory-tariffs-against-us-donald-trump-trade-war-2025-2
Published Date: Sun, 02 Feb 2025 02:45:42 +0000
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