Outgoing Canadian Prime Minister Justin Trudeau warned on Thursday that the country would respond with retaliatory tariffs if the United States follows through with plans to impose sweeping tariffs on Canadian products.
Speaking to reporters in Ottawa, Trudeau promised Canada would counter with a “strong and robust response” if newly inaugurated President Donald Trump were to make good on his promised tariffs, “whether it be back on Jan. 20th, on Feb. 1st or Feb. 15th as a Valentines Day present, or on April 1st or whenever.”
“We don’t want this but we will respond if necessary,” Trudeau said of the potential retaliatory tariffs.
Trudeau, who announced earlier this month that he will resign as leader of the ruling Liberal Party, added that “everything is on the table” when it comes to retaliatory measures.
Canadian lawmakers are currently looking into wide-sweeping retaliatory tariffs for everything from American orange juice and toilets to some steel products.
Trudeau warned that tariffs would lead to higher prices not only for Americans who are already grappling with high inflation but for Canadians, too.
“It would be bad for Canada, but it would also be bad for American consumers,” Trudeau said, adding that prices would rise for “just about everything.”
“We don’t think [Trump] wants that,” he said.
Trump told reporters in the Oval Office on Thursday that he is considering applying 25 percent tariffs on Mexico and Canada—two of America’s top three trade partners—as early as Feb. 1 unless they take steps to curb illegal immigration and the flow of fentanyl into the United States.
Trump, who was sworn in for a second term on Monday, also said he may impose a 10 percent tariff on Chinese imports, beginning on the same date.
Prior to his election, Trump said he would impose such tariffs on Canada and Mexico within his first day of taking office. Instead, he has asked federal agencies to investigate potential unfair trade practices with any country and to recommend associated trade policies.
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