Justin Trudeau on Donald Trump’s 25% import tariffs, says Canada is prepared
Canadian Prime Minister Justin Trudeau said his country is “prepared” to face US President Donald Trump’s decision to impose 25 per cent tariffs on all imports starting from Tuesday.
On Saturday, Trump signed an executive order to place duties of 10 per cent on all imports from China and 25 per cent on imports from Mexico and Canada. But energy imported from Canada, including oil, natural gas and electricity, would be taxed at a 10 per cent rate.
The order also includes a mechanism to escalate the rates if the countries retaliate against the US. The decision, however, risks an economic standoff with Mexico and Canada — America’s two largest trading partners in Mexico and Canada, while it could also cause inflation to significantly worsen.
