Canada may impose tariffs on the US in retaliation against Trump.
Canada could impose tariffs worth $105 billion on US goods in retaliation for Trump imposing tariffs on Canada.
According to RIA Novosti on January 16, Bloomberg reported that Canada could impose tariffs on US goods worth a total of $105 billion if US President-elect Donald Trump decides to impose tariffs on Canadian products.
Bloomberg reported: “Canada has compiled a preliminary list of C$150 billion (approximately US$105 billion) worth of US-made goods that Ottawa would impose tariffs on if President-elect Donald Trump decides to impose high tariffs on Canadian goods.”
According to Bloomberg, this list is only preliminary, and the idea could be implemented if Trump takes the first step in imposing tariffs. Canada could then add to the list based on the practical actions of the US.
Earlier, on January 15, Canadian Prime Minister Justin Trudeau and the leaders of 12 out of 13 Canadian cities agreed on a statement that they would “stand together and take a series of measures to ensure a strong response to potential US tariffs.”
Bloomberg reports that Alberta Premier Danielle Smith disagrees with two proposed ideas – imposing an export tax on energy exports from the province, as well as reducing the volume of those exports.
Donald Trump previously stated that, after taking office as president, he would impose a 25% tariff on goods imported from Canada and Mexico due to unresolved issues of illegal immigration and drug trafficking at the border with the United States. This move prompted Canada to announce a plan worth 1.3 billion Canadian dollars (901 million USD) to address these concerns.
The Wall Street Journal noted that the new tariffs risk undermining the global trading system and severely damaging key sectors of the U.S. economy, including the automotive industry.
