Canadian Prime Minister Justin Trudeau declared on Monday that he is prepared to engage in a trade conflict with President Trump if the U.S. leader moves ahead with imposing a 25% tariff on goods imported from Canada at midnight. Trudeau labeled the United States’ impending action as “unjustified” and made it clear that Canada would not let the move go without a response.
“Should American tariffs come into effect tonight, Canada will, effective 12:01 a.m. EST tomorrow, respond with 25 per cent tariffs against $155 billion of American goods – starting with tariffs on $30 billion worth of goods immediately, and tariffs on the remaining $125 billion on American products in 21 days’ time,” he said in a statement.
“Our tariffs will remain in place until the U.S. trade action is withdrawn, and should U.S. tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures.”
Earlier in the day, Trump told reporters at the White House that the 25% tariffs would take effect on goods from Canada and Mexico at midnight, following a 30-day delay on their implementation.
He argued that the tariffs were necessary to compel the two countries to address the issues of fentanyl trafficking into the U.S. and to curb illegal immigration.
At 78 years old, Trump has also expressed a desire to eliminate the trade deficit between the U.S. and its two neighbors, while pushing for more manufacturing to return to the United States.
In response to the potential tariffs, Trudeau warned that American consumers would feel the impact in their wallets.
“Americans will pay more for groceries, gas, and cars, and potentially lose thousands of jobs. Tariffs will disrupt an incredibly successful trading relationship,” he said.
{Matzav.com}