Canadian Prime Minister Justin Trudeau issued a response to US President Donald Trump’s Saturday order imposing a 25 percent tariff on imports from Canada, announcing that the country will be implementing a 25 percent tariff of its own on American goods.
Trudeau argued that the tariffs would inevitably raise the costs of goods for American consumers. He suggested that this course of action may not be the best economic option for the US, saying, “If President Trump wants to usher in a new ‘golden age’ for the United States, the better path is to partner with Canada, not to punish us.”
Trudeau also said the country is considering non-tariff measures, including “some relating to critical minerals, energy, procurement, and other partnerships.”
Trump’s executive order places a 25 percent tariff on all Canadian goods except for “energy resources,” such as oil and gas, which will face a 10 percent tariff. The order also applies a 25 percent tariff on Mexican imports and a 10 percent levy on Chinese goods. These tariffs are set to take effect on Tuesday.
In anticipation of the tariffs, Canadian officials have considered imposing retaliatory measures. However, Trump’s order warns that if Canada, Mexico, or China were to “retaliate against the United States in response to this action through import duties on United States exports to Canada or similar measures, the President may increase or expand in scope the duties imposed under this order to ensure the efficacy of this action.” […]
— Read More: thepostmillennial.com
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