Ottawa, February 2, 2025 – In response to President Donald Trump’s decision to impose 25% tariffs on all Canadian and Mexican imports, Canadian Prime Minister Justin Trudeau announced a reciprocal tariff policy targeting $107 billion worth of U.S. goods.
Key Developments:
- Trump’s Executive Order:
- Imposes 25% tariffs on all Canadian and Mexican goods.
- Imposes 10% tariffs on Chinese imports.
- Set to take effect on Tuesday.
- Trudeau’s Countermeasures:
- Immediate tariffs on C$30 billion ($21 billion) worth of U.S. goods.
- Additional C$125 billion ($86 billion) in tariffs within 21 days.
- Affects American beer, wine, bourbon, orange juice (Florida), clothing, sports equipment, and household appliances.
Escalating Trade War & Economic Concerns
Economists warn that these tariffs could disrupt trade, slow global growth, and push inflation higher.
Trudeau’s Statement to Americans:
“These tariffs will raise your costs—groceries, gas, and essential goods. We didn’t ask for this, but we will not back down.”
Canada’s Additional Measures
- Exploring non-tariff actions, including restrictions on critical minerals and energy trade.
- Encouraging Canadians to buy local and avoid travel to the U.S.
With China also retaliating against U.S. tariffs, global markets are bracing for major economic disruptions in the coming weeks.
