WASHINGTON - Ottawa is ready to retaliate if U.S. president-elect Donald Trump slaps Canada with devastating tariffs, Prime Minister Justin Trudeau promised Friday — and his ministers say Republicans in
Summary
Canada is preparing to retaliate against Donald Trump’s proposed 25% tariffs on Canadian imports, which could trigger the largest trade war between the nations in decades.
Prime Minister Justin Trudeau promised counter-tariffs worth $37 billion, with potential for further measures, depending on Trump’s final order.
Canadian officials warn the tariffs could harm both economies, disrupting key sectors like automotive, energy, and agriculture.
Labor leaders expressed concerns over job losses and urged collaboration. Canada hopes to avoid tariffs by highlighting their mutual economic impact to U.S. lawmakers.
I'm going to love watching that smug tone vanish when you come to the realization that the US Dollar is a world currency and without it, it will cause widespread economic depressions across the world.
edit: I guess y'all don't like to hear the truth. go ahead and bury your heads in the sand while orange putin destroys the world economy.
you're thinking too locally. countries have a reserve of USD on hand to use as trade and an easy way to pay debts. this is why USD is called a "global reserve currency"
Countries hold reserves for a number of reasons, including to weather economic shocks, pay for imports, service debts, and moderate the value of their own currencies.
what do you think happens to those other countries that hold USD reserves when it drops in value?
it's an economic depression! hope you're ready for your grocery bill to quadruple. do you think your power company will accept payments made in gold? silver? pleasures of the flesh?
doesn't take a rocket scientist to figure out what's going to happen once the USD halves in value. complete economic meltdown.
the question you should be asking yourself is, who benefits from this?