Canada Strikes Back: Trudeau Announces Retaliatory Tariffs on U.S. Imports

Prime Minister Justin Trudeau announced Canada's immediate imposition of retaliatory tariffs on U.S. goods, starting with a C$30 billion tranche. This move follows U.S. tariffs on Canadian imports. Canada's plan also includes potential non-tariff measures and consultations for further tariffs on various products.

In a decisive response to recent U.S. tariffs, Canadian Prime Minister Justin Trudeau has announced the implementation of retaliatory tariffs on a substantial $20.8 billion worth of U.S. goods, effective immediately. The move is a strategic maneuver aimed at countering the U.S.'s 25% tariffs on Canadian and Mexican products, as well as a 10% duty on Canadian energy goods.

The initial phase of Canada's tariff strategy involves a sweeping range of products, amounting to C$30 billion, with potential further actions targeting an additional C$125 billion worth of imports following a three-week consultation period. The list of affected goods currently includes essential household items such as cosmetics, appliances, and major exports like pulp and paper.

Meanwhile, Canada is also exploring non-tariff measures, possibly impacting critical minerals and energy partnerships, to assert economic pressure. Additionally, Trudeau's government is preparing support mechanisms for Canadian industries and workers to alleviate the economic impact of these measures, signaling a robust stance against trade discrepancies. This development denotes a tense period in Canada-U.S. trade relations, with significant implications for both economies.

(With inputs from agencies.)