Canada Strikes Back: Tariff Wars Escalate

Canada imposes 25% tariffs on U.S. goods in response to President Trump's new tariffs. This reciprocal action by Prime Minister Justin Trudeau affects C$155 billion of American imports. The escalating trade tensions between the two neighboring countries could have significant economic impacts, affecting prices and global trade dynamics.

In a bold retaliatory move, Canada has announced a 25% tariff on U.S. goods. Prime Minister Justin Trudeau revealed that C$155 billion ($107 billion) worth of American products will face increased duties as a response to President Donald Trump's recent tariff imposition on foreign goods, including those from Canada and Mexico.

The announcement, made during a press conference, highlights growing tensions between two long-standing allies. Trudeau's measures mirrored President Trump's tariffs that risk triggering a global trade war and potential economic fallout. The Canadian government has slated the first round of tariffs to coincide with Trump's deadline, impacting a wide range of consumer goods.

Beyond tariffs, Trudeau noted that Canada is exploring additional non-tariff strategies involving key sectors like critical minerals and energy procurement. The Canadian leader also urged nationalistic support by encouraging citizens to prioritize local products and travel domestically. The unfolding situation underscores Canada's resilience as it navigates strained diplomatic and trade relations with its southern neighbor.

(With inputs from agencies.)