Canada Unveils Retaliatory Tariffs on Approximately $20 Billion of U.S. Goods
Canada is preparing to implement new tariffs on roughly $20 billion of American products. This move is a direct response to the 50% duties that President Donald Trump's administration previously imposed, following a stalemate in trade negotiations.
Canadian Trade Minister Dominic LeBlanc stated that the preferred course of action was to avoid imposing tariffs. He expressed that Canada's preference was to reach a mutually beneficial agreement with the United States, and that he still believes this is achievable. However, LeBlanc indicated that Canada would not passively await a resolution and is proceeding with its retaliatory measures.
Official announcements regarding Ottawa's counter-measures to the U.S. actions are scheduled to be made at a press conference at 11 a.m. ET.
English Translation:
Canada is poised to announce new tariffs on approximately $20 billion of U.S. goods. This action comes in retaliation for the 50% duties that President Donald Trump imposed after trade talks broke down.
"Our preference was not to do that," LeBlanc stated, confirming Canada's intention to unveil the new tariffs. "Our preference was to find a deal that benefits both countries. We still believe that's possible. But in the meantime, we're not waiting by the phone."
Canadian officials are set to formally announce Ottawa's response to the United States' actions at a press conference scheduled for 11 a.m. ET.
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