The Trump administration has forged ahead with implementing 25 per cent tariffs Canadian exports as of March 4, sending markets lower and triggering a previously-announced response from the Canadian government.
“Canada will not let this unjustified decision go unanswered,” said Prime Minister Justin Trudeau, in a statement late March 3.
As announced prior to an agreement to a 30-day pause in early February, the Government of Canada is implementing tariffs on $30 billion worth of goods immediately, and tariffs on an additional $125 billion in American products after a 21-day comment period.
“Our tariffs will remain in place until the U.S. trade action is withdrawn, and should U.S. tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures,” said Trudeau. “While we urge the U.S. administration to reconsider their tariffs, Canada remains firm in standing up for our economy, our jobs, our workers, and for a fair deal.”
Trudeau, Conservative leader Pierre Poilievre, and Ontario Premier Doug Ford are all scheduled to hold press conferences this morning.
More to come.
Related:
Canola oil, tires, and many food products subject to Canada’s first wave of retaliatory tariffs
A tariff to-do list: CAPI outlines short- and long-term trade action items
