Canada said tuesday that it will slap retaliatory tariffs on an extra C$125 billion worth of U.S. imports throughout 21 days, starting with a 25% duty on C$30 billion starting tuesday, amid the trade conflict.
 
The action follows US President Donald Trump's monday rejection of the idea of a last-minute agreement with canada and mexico to evade significant tariffs.  A directive to raise tariffs on china was also signed by him.  Trump announced and then postponed taxes on imports from canada and mexico last month. Over $918 billion worth of US goods from both nations might be impacted by the levies.
 
Are tensions likely to increase between US and Canada?
Since Canadian prime minister Justin Trudeau stated that the levy will stay in effect if US President Donald Trump's government implements its proposed tariffs on Canadian exports, tensions between the two nations are expected to increase.
 
"Our tariffs will remain in place until the U.S. trade action is withdrawn, and should U.S. tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures," Trudeau stated.
 
"There is no justification" for Trump's tariffs, Trudeau added.
 
"Because of the tariffs imposed by the US, Americans will pay more for groceries, gas and cars, and potentially lose thousands of jobs," he stated.  "A highly prosperous trading partnership will be disrupted by tariffs.  The identical trade deal that President trump negotiated during his previous term will be broken by them.
 
Claudia Sheinbaum, the president of mexico, adopted a wait-and-watch approach in anticipation of Trump's remarks.  "So whatever his decision is, we will make our decisions and there is a plan, there is unity in Mexico."
 
 The extensive tariffs may raise family expenses by upsetting supply networks for vital industries like construction supplies and autos, particularly on canada and Mexico.
 
 Trump may find it more difficult to fulfill his campaign pledge to cut costs for Americans as a result.
 
 
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

USA Canada

SIBY JEYYA

04/03/2025 09:43 AM