Canada Plans Tariff Retaliation if Trump Escalates Trade War
Canada imported $320 billion in U.S. goods in the first 11 months of 2024, nearly equaling the European Union’s $341 billion. A U.S. 25% tariff could reduce Canada’s GDP by up to 3.8%, with retaliatory tariffs amplifying the impact to as much as 5.
Canada Readying List of Retaliatory Tariffs in Response to Possible 25% US Tariff, Sources Tell Bloomberg
-Canada is drawing up plans for extensive tariffs against U.S. products in the event President-elect Donald Trump follows through on his pledge to slap a 25% tariff on all Canadian imports, Bloomberg News reported, citing government officials and people familiar with the matter.
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