- Canadian Prime Minister Justin Trudeau on Saturday introduced retaliatory tariffs in opposition to the US.
- Canada will impose a 25% tariff on US items, some efficient Tuesday and others in 3 weeks.
- The tariffs come after Donald Trump carried out 25% tariffs on Canadian items imported to the US.
Canadian Prime Minister Justin Trudeau on Saturday introduced retaliatory tariffs in opposition to the US in response to President Donald Trump’s tariffs on Canadian imports, which have been carried out earlier within the day.
“Tonight, I’m asserting Canada will likely be responding to the US commerce motion with 25% tariffs in opposition to 155 billion {dollars} price of American items,” Trudeau mentioned throughout a press convention. “This may embody speedy tariffs on $30 billion price of products as of Tuesday, adopted by additional tariffs on $125 billion price of American merchandise in 21 day’s time to permit Canadian firms and provide chains to hunt to search out alternate options.”
Canada’s tariffs come after Trump made good on an oft-repeated marketing campaign pledge, implementing 25% tariffs on Canadian items imported to the US in what he described as an effort to curb the fentanyl disaster.
A 2022 congressional report discovered Canada shouldn’t be a serious supply of fentanyl or different artificial opioids to the USA.
Representatives for the Trump administration and Trudeau’s workplace didn’t instantly reply to a request for remark from Enterprise Insider.
