On his inauguration day, President Trump opted against immediately imposing tariffs on Canada, Mexico, and China, despite previous threats. Instead, he will direct agencies to investigate trade deficits and unfair trade practices from these countries. While this provides temporary relief for Canada, the threat of future tariffs remains, with Canada prepared to retaliate with its own tariffs on American goods should they be imposed. The decision to delay tariff implementation allows Trump to prioritize other inaugural day initiatives, but Canada remains vigilant and is proactively engaging with the Trump administration on trade concerns.
Read More
The Shopping Trends team operates independently from CTV News journalists. This team may receive commission on purchases made via provided links. Full details regarding the team’s operations are available via a linked page.
Read More
Canadian Foreign Minister Mélanie Joly warned that President-elect Trump’s threatened 25% tariff on Canadian goods would result in a “Trump tariff tax” for Americans. Canada plans retaliatory tariffs, targeting key American industries and products, should the tariffs be imposed. This action risks significant economic harm to both nations, impacting sectors such as autos, energy, and agriculture, with Canada prepared for a substantial response. The potential economic fallout is substantial, impacting both GDP and numerous American jobs, as highlighted by both Joly and former finance minister Chrystia Freeland.
Read More
President-elect Trump’s threat to impose 25% tariffs on Canadian imports, and his suggestion that Canada become the 51st state, overshadows the significant negative impact these tariffs would have on American consumers. Trudeau highlights that increased costs for goods like oil and gas would harm U.S. citizens, countering Trump’s assertions of trade deficits and Canadian subsidies. Canada has prepared retaliatory tariffs on various U.S. goods should the threat materialize, mirroring previous responses to similar actions. Despite Trump’s claims of U.S. energy independence, Canada remains a crucial supplier of oil to the United States.
Read More
Facing a potential 25% US tariff threat on all Canadian imports, Canadian premiers are collaboratively developing retaliatory measures. These measures, suggested by Premier Doug Ford, could include cutting off energy exports to US states like Michigan, New York, and Wisconsin. Deputy Prime Minister Chrystia Freeland confirmed provincial support for a strong response, noting suggestions also included restricting exports of critical minerals and metals. While the US government’s own data shows significantly fewer migrants and fentanyl entering from Canada than Mexico, Canada is still preparing enhanced border security measures.
Read More
China’s recent restriction on rare earth mineral exports to the U.S. highlights the vulnerability of relying on single sources for critical materials. This action underscores the need for enhanced trade cooperation between Canada and the U.S., particularly given Canada’s significant mineral exports to its southern neighbor. Imposing tariffs on Canadian minerals would further disrupt supply chains and harm North American competitiveness. Companies like Teck Resources are already responding to the increased demand by exploring ways to increase production of vital minerals such as germanium.
Read More
Following President-elect Trump’s threat of a 25% tariff on Canadian goods, Prime Minister Trudeau convened an emergency meeting with provincial premiers. This tariff, ostensibly to combat illegal immigration and fentanyl trafficking, is viewed as economically devastating given the deep trade ties between the US and Canada. While Canadian officials dispute Trump’s claims regarding the border’s role in these issues, the threat has already negatively impacted the Canadian stock market and prompted calls for a robust, unified response, potentially including retaliatory tariffs. The situation evokes memories of previous trade disputes with the Trump administration and necessitates a reassessment of Canada’s approach to US relations.
Read More
John Q. Hosedrinker