Canada and Mexico hit back after Trump signs order for punishing tariffs
Canada and Mexico hit back after Trump signs order for punishing tariffs
Justin Trudeau, Canada’s prime minister, announces tit-for-tat 25% tariffs and warns of impeded access to ‘vital goods critical to US security’
Summary
Canada and Mexico announced retaliatory tariffs after Donald Trump imposed 25% tariffs on their exports, citing drug trafficking and immigration concerns.
Canadian Prime Minister Justin Trudeau unveiled phased tariffs on $107 billion in U.S. goods, including energy and minerals, warning of economic consequences.
Mexican President Claudia Sheinbaum vowed countermeasures but urged dialogue. China, also targeted, condemned the move as a WTO violation.
Economists warn of rising costs for American consumers.
If Canada wants to really retaliate then wouldn't the best option be to put on an export tax ON exports to America (like oil/gas/power/Minerals and Heavy equipment)?
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Certainly wouldn't hurt to extort them on the oil front.
From the Canadian angle: If only the Premier of Oil Country hadn’t gone to Mar a Lago and stayed in solidarity with the leaders of the other 9 provinces. Trudeau won’t alienate AB + SK.
The thinking is that would hurt their export businesses even more.