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 can be implemented if Mr. Trump "raises his hand" to impose tariffs first. Canada can then add to the list, based on the actual actions of the US.
Earlier, on January 15, Canadian Prime Minister Justin Trudeau and the heads of 12/13 Canadian cities agreed on 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 exports from the province, as well as reducing their export volume.
Donald Trump said earlier that after taking office, he would impose a 25% tariff on goods imported from Canada and Mexico due to unresolved illegal immigration and drug trafficking issues at the US border. The move prompted Canada to announce a C$1.3 billion ($901 million) plan to address these concerns.
The new tariffs threaten to undermine the global trading system and cause serious damage to key sectors of the US economy, including the auto industry, the Wall Street Journal noted.
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