Risk of a trade war between the US and Canada..!?

It has been reported that donald trump, who is about to take office as the US President, is going to raise import tariffs on Canadian goods to 25 percent. It has been revealed that this will cause a major trade war between the two countries. Canadian Foreign minister Melania Jolie has said that if trump imposes high import tariffs on their country's goods, it will cause the biggest trade war between the two countries in years. Speaking to reporters in Washington, USA on Friday, Canadian Foreign minister Jolie said that if the trump administration increases import tariffs on their country's goods, we will increase tariffs on American goods in return and that the US is the one who started this trade war. He said that canada is ready to respond to any action taken by the trump administration that affects the trade relations between the two countries. He also warned that this would lead to the largest trade war in the last ten years.
Earlier, Canadian prime minister Justin Trudeau said that we are ready to respond to any action taken by the trump administration against our country. Our intention is to avoid a trade war, but we will strongly oppose any action taken by the trump administration. He said that we will impose heavy taxes on steel and other goods imported into canada from the United States. The trade relationship between canada and the united states is worth $ 3.6 billion. canada is the largest export hub for 36 states in the United States. Therefore, it is said that any action taken that can affect the trade relationship between the two countries will have an impact on the economies of both countries. Experts warn that Canada's GDP in particular will be affected by this, with inflation and unemployment rising. In this situation, the Canadian government is actively preparing to put pressure on the trump administration to take no action.
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Sowmiya Sriram

19/01/2025 11:22 AM