Canada to Implement 25% Retaliatory Tariffs Towards US

• Canadian Prime Minister Justin Trudeau on Saturday introduced retaliatory tariffs towards the US.
• Canada will impose a 25% tariff on US items, some efficient Tuesday and others in 3 weeks.
• The tariffs come after Donald Trump applied 25% tariffs on Canadian items imported to the US.

Canadian Prime Minister Justin Trudeau on Saturday introduced retaliatory tariffs towards the US in response to President Donald Trump’s tariffs on Canadian imports, which had been applied earlier within the day.

“Tonight, I’m saying Canada might be responding to the US commerce motion with 25% tariffs towards 155 billion {dollars} value of American items,” Trudeau mentioned throughout a press convention. “It will embrace instant tariffs on $30 billion value of products as of Tuesday, adopted by additional tariffs on $125 billion value of American merchandise in 21 day’s time to permit Canadian firms and provide chains to hunt to seek out options.”

Canada’s tariffs come after Trump made good on an oft-repeated marketing campaign pledge, implementing 25% tariffs on Canadian items imported to the US in what he described as an effort to curb the fentanyl disaster.

A 2022 congressional report discovered Canada shouldn’t be a serious supply of fentanyl or different artificial opioids to america.

Representatives for the Trump administration and Trudeau’s workplace didn’t instantly reply to a request for remark from Enterprise Insider.