Canadian Prime Minister Justin Trudeau has come out swinging against US President Donald Trump’s recent imposition of tariffs on Canadian goods. In what is likely one of his final actions in office, Trudeau has labeled Trump’s decision as “a dumb thing to do” and has vowed that Canada will not back down from a fight.
In a press conference, Trudeau announced retaliatory tariffs of 25% on C$155bn worth of American goods, starting with C$30bn of goods immediately. This move is seen as a direct response to Trump’s 25% tariffs on products entering the US from Canada, as well as a 10% tariff on Canadian energy.
Furthermore, Trudeau accused Trump of wanting to see a “collapse” of the Canadian economy and reiterated that Canada will never become the 51st US state. This escalation in tensions between the two neighboring countries could have far-reaching consequences for trade relations and economic stability.
As both leaders continue to flex their muscles in this trade war, the impact on businesses and consumers on both sides of the border remains to be seen. The situation is fluid and evolving rapidly, with the potential for further retaliatory actions and consequences. Stay tuned for more updates on this developing story.
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