Canada responds ‘dollar for dollar’ to Trump’s tariffs
Mark Carney’s government takes on the US: tariffs worth 20 billion on imports of 700 American products
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Mark Carney had promised: ‘We will respond to the threats and tariffs from Donald Trump, blow for blow, dollar for dollar,” said the Canadian Prime Minister, calling on the whole of Canada to make sacrifices to bear the consequences of a “trade war” against the United States.
And the response – following a couple of days of meetings within the Ottawa government and further attacks from Trump – has come: in the form of resistance to the overwhelming power of the US, which until now few countries – perhaps only China, with the strength of its strategic raw materials – have had the courage to organise.
Canada will impose tariffs ranging from 15 per cent to 50 per cent on 700 products imported from the United States, with a total value of around 20 billion dollars: Canadian Finance Minister François-Philippe Champagne announced this, adding that to help the sectors hardest hit by this trade war, the government in Ottawa has already allocated 5.4 billion US dollars to support businesses’ liquidity and boost unemployment benefits.
The measures decided by the Carney government will come into force on 8 September to counter the 50 per cent tariffs imposed by the United States – following the breakdown of trade negotiations – on $20 billion worth of Canadian goods. To this, Trump has added the threat of doubling tariffs on Canadian-made cars and steel to 50 per cent from next year.
“This is an unprecedented challenge facing Canada. But Canada will rise to the occasion,” Champagne emphasised. “I think what Canadians can see at the moment is that we are united. We are united in our response,” he added.
