Canada may impose tariffs on the US in response to Mr. Trump
Canada could impose tariffs of $105 billion on US goods, in retaliation for Mr Trump imposing tariffs on Canada.
According to RIA Novosti on January 16, Bloomberg news agency reported that Canada could impose tariffs on US goods worth a total of 105 billion USD, if US President-elect Donald Trump decides to impose tariffs on Canadian products.
“Canada has drawn up a preliminary list of C$150 billion (about $105 billion) in U.S.-made goods that Ottawa will impose tariffs on, if President-elect Donald Trump decides to impose steep tariffs on Canadian goods,” Bloomberg reported.
According to Bloomberg, this list is only preliminary, the idea could be implemented if Mr. Trump “raises his hand” to impose tariffs first. Canada could then add to the list, based on actual US actions.
Earlier, on January 15, Canadian Prime Minister Justin Trudeau and the leaders of 12/13 Canadian cities agreed to a statement that they would “stand together, implementing a series of measures to ensure a strong response to potential US tariffs”.
Bloomberg reported that Alberta Premier Danielle Smith disagreed with two proposed ideas - imposing an export tax on energy exported from the province, as well as reducing their export volume.
Donald Trump has said he will impose a 25% tariff on goods imported from Canada and Mexico after taking office due to unresolved issues of illegal immigration and drug trafficking at the US border. The move prompted Canada to announce a C$1.3 billion ($901 million) plan to address its concerns.
The Wall Street Journal noted that the new tariffs threaten to undermine the global trading system and cause serious damage to important sectors of the US economy, including the auto industry.
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