Trump announced that Canadian imports will now be taxed at 25%, raising prices for the average American consumer.
Prime Minister Trudeau responded with a blistering speech.
‘Today, the United States launched a trade war against Canada, their closest partner and ally, and their closest friend. At the same time they’re talking about working positively with Russia, appeasing Vladimir Putin a lying murderous dictator. Make that make sense.’
In 2024, the US imported $412 billion worth of goods from Canada, America’s third-largest trading partner.
Already, Target and Best Buy have issued warnings, predicting potential price increases as Trump’s tariffs go into effect.
Said one CEO: ‘We expect our vendors across our entire assortment will pass along some level of tariff costs to retailers, making price increases for American consumers highly likely.’
Added Canada’s Prime Minister:
‘We’re insulted, we’re angry, but we’re Canadian, which means we’re gonna stand up for each other, we’re gonna fight…and we’re gonna win.’
Trudeau announced that Canada would immediately begin implementing 25 % tariffs on $155 Billion of American goods.
‘This is a time to hit back hard and to demonstrate that a fight with Canada will have no winners,’ he said.