In response to potential U.S. tariffs, the EU vowed a firm response to any unfair trade practices. French Industry Minister Marc Ferracci advocated for a strong, targeted countermeasure focused on impactful U.S. products to ensure effective negotiation leverage. This call for a “biting” response echoes a similar sentiment from an EU spokesperson, emphasizing the need for a powerful reaction. While German Chancellor Scholz highlighted the value of open trade, he also acknowledged the EU’s capacity for retaliatory action. The EU awaits concrete U.S. decisions before finalizing its countermeasures.
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In response to potential U.S. tariffs on Canadian goods, Canadian premiers are considering retaliatory measures, including removing American alcohol from provincial liquor store shelves. Ontario Premier Doug Ford has already directed the LCBO to prepare for this action, and British Columbia’s Premier has indicated similar plans. This potential ban targets significant U.S. alcohol imports, valued at over $900 million in 2024, impacting both consumers and businesses on both sides of the border. The federal government is also preparing its own list of retaliatory tariffs against the United States, adding further tension to this developing trade conflict.
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In response to the U.S. imposing 25% tariffs on Canadian goods, Canada will immediately retaliate with 25% tariffs on $30 billion worth of American products, followed by an additional $125 billion in tariffs within 21 days. Prime Minister Trudeau warned that these tariffs will harm both Canadian and American citizens, potentially impacting jobs and consumer prices in the U.S. The tariffs stem from a U.S. effort to combat fentanyl trafficking and illegal immigration, though specific benchmarks for removal remain unclear. Trudeau emphasized the importance of carefully considering any further retaliatory measures, particularly those impacting specific Canadian regions.
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President-elect Trump’s planned tariffs on Canada and Mexico are opposed by President Biden, who considers them counterproductive and potentially damaging to crucial relationships. Biden hopes Trump will reconsider this action, which violates the USMCA and could severely impact the Canadian economy. While both Trudeau and Sheinbaum spoke with Trump, their accounts of the conversations regarding border control and tariffs differed. Biden expressed confidence that a smooth transition would occur, despite Trump’s controversial trade policies.
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John Q. Hosedrinker