Prime Minister Justin Trudeau says the United States has launched a trade war with Canada and Canada is fighting back.
Trudeau says the country is beginning with 25 per cent retaliatory tariffs on 30-billion dollars worth of American products after the U-S hit Canada with 25 per cent across-the-board tariffs today.
The levy will be expanded to another 125-billion dollars in U-S goods in 21 days.
Trudeau says Canada will file dispute resolution claims with the World Trade Organization and through the Canada-U-S-Mexico Free Trade Agreement. (9)
On Tuesday afternoon, PEI Premier Rob Lantz will be joined by the Cabinet Committee on Trade Relations to discuss the province’s response to U.S. tariffs.
Newfoundland and Labrador Premier Andrew Furey says the relationship between his province and the United States has been “unlawfully and unjustly harmed.”
Canada’s premiers are reacting to President Donald Trump slapping Canada with 25 per cent across-the-board tariffs and a lower levy on Canadian energy.
New Brunswick Premier Susan Holt called on residents to come together in what will be a challenging time and to focus on buying Canadian products.
Ontario and Manitoba are pulling alcohol off some store shelves in response to the tariffs.
And Quebec Premier Francois Legault is holding a special meeting of his cabinet before he announces his province’s response. (9)
Economists say a Canadian recession looms this year if U-S tariffs stay in place.
R-S-M Canada economist Tu Nguyen says Canada’s economic landscape is set to change dramatically as the trade war will mean prices increase, unemployment rises, and consumers begin pulling back.
She says no sector will be spared and businesses will need to cut jobs.
