Key points
- Canada is set to impose retaliatory tariffs on US vehicle imports
- Trump says tariffs are necessary to restore US manufacturing
- China, EU vow retaliation to safeguard their economic interests
OTTAWA: In a move responding to US President Donald Trump’s tariffs, Canadian Prime Minister Mark Carney has announced that Canada will impose retaliatory tariffs on US vehicle imports.
He has warned that Americans will experience “damage” and “pain”. The premier said that his country will impose retaliatory tariffs on US vehicle imports in response to President Donald Trump’s newly implemented 25 per cent auto tariffs.
Newsweek reported that Canada, one of the closest US trading partners, announced retaliatory tariffs on Thursday in response to Trump’s “Liberation Day” tariffs the day prior, which included a 25 per cent auto tariff on Canada.
Global tariffs
Trump has argued that the dozens of global tariffs he imposed Wednesday are necessary to restore US manufacturing.
In a Thursday announcement, Prime Minister Carney stated that Canada will match US tariffs.
He said that the Canadian tariffs will target vehicle imports rather than auto parts, which are included in the American measures.
“Given the prospective damage to their own people, the American administration should eventually change course,” Carney insisted.
Earlier, China and the European Union have condemned new tariffs imposed by Trump and vowed retaliation to safeguard their economic interests.
Global trade war
Trump’s move to slap a 10 per cent tariff on most goods imported to the US, as well as much higher levies on dozens of rivals and allies alike, has intensified a global trade war that threatens to stoke inflation and stall growth.
The sweeping penalties unleashed turbulence across world markets and drew condemnation from other leaders now facing the end of an era of trade liberalisation that has shaped the global order for decades.
