February 03, (THEWILL) – In a bold response to escalating trade tensions, Canada has announced retaliatory tariffs against the United States, imposing a 25% duty on $155 billion worth of American imports.
The move comes in reaction to President Donald Trump’s decision to slap 25% tariffs on Canadian and Mexican goods, alongside 10% duties on Chinese products.
In a statement issued on Sunday, Canada’s Minister of Finance and Intergovernmental Affairs, Dominic LeBlanc, condemned the U.S. action as “unjustified and unreasonable,” stressing that Canada will not remain passive in the face of such economic pressure.
“Canada will not stand by as the United States imposes unjustified and unreasonable tariffs on Canadian goods. In response, we are moving forward with 25% tariffs on $155 billion worth of imported U.S. products. We will protect Canadian interests and support our workers and industries,” the statement read.
The first phase of Canada’s response will take effect on February 4, 2025, coinciding with the implementation of the U.S. tariffs. The targeted items include a broad range of goods such as beverages, cosmetics, and paper products.
LeBlanc also revealed that an additional list of U.S. imports, valued at $125 billion, will face tariffs after a 21-day public consultation period. This second phase will cover critical sectors, including passenger vehicles, trucks, buses, steel, aluminum, aerospace products, beef, pork, dairy products, and certain fruits and vegetables.
To cushion the impact on domestic businesses, the Canadian government plans to launch a remission process, allowing affected companies to apply for exceptional relief from the newly imposed tariffs.
Leblanc stated, “The tariffs imposed by the U.S. administration are unjustified and detrimental to both Americans and Canadians
“Working with provincial, territorial, and industry partners, our singular focus is to get them removed as quickly as possible. Until then, our response will be balanced and resolute.”
He further emphasised that all options remain on the table, including non-tariff measures, should the U.S. continue its current trade policies.
