Economist Steve Moore and the former member of the Blank House economic advisers, Tomas Philipson, discuss President Donald Trump’s prices on foreign countries on “results”.
Ottawa – Canada meets 25% prices of President Donald Trump imposed on Saturday on his northern neighbor with his own major reprisalsAnnounced Canadian Prime Minister Justin Trudeau late Saturday evening.
On Tuesday, when American prices take effect, Canada will impose rights of 25% at around $ 21 billion in American products with an additional $ 86 billion to follow within 21 days to allow Canadian companies and supply chains for Finding alternatives, Trudeau told journalists in a press conference on the hill of Parliament in Ottawa, surrounded by his ministers of foreign affairs, finance and public security.
He said Canadian prices on American imports will cover a range of “deep” products, including American beer, wine, bourbon, fruit and fruit juices, vegetables, clothes, shoes, devices Appliances, furniture, sports equipment, wood, plastics, “with a lot, much more.”
In Trump’s decree published on Saturday, Canadian energy resources will face a 10%less price.
Trump imposes prices on imports from Canada, Mexico and China: “ national emergency ”
Prime Minister Justin Trudeau speaks during a press conference while responding to President Donald Trump’s orders to impose 25% of Canadian import rates in Ottawa on February 1, 2025. (Reuters / Patrick Doyle)
Trudeau said that several non -pricing measures were also on the table, such as exports on critical minerals, energy and government purchases, and has added that “is now the time to choose Canada”, as the purchase of Canadian manufacturing products “and” opt for Canadian rye on Kentucky Bourbon, or Florida orange juice that precedes all together. “”
“Actions taken today by the White House Trump We separate instead of gathering, “said Trudeau, who noted that he had not spoken with Trump since his inauguration as president.
However, the president’s decree warned that “if Canada was retalating” with its own import rights to American exports, Trump “could increase or extend in the scope of imposed rights” to Canadian exports.
In an information sheet published on Saturday by the White House, the United States implements prices against Canada, Mexico and China to keep them responsible “for their STOP promises to interrupt illegal immigration and ‘Toxic fentanyl stop and other drugs to flow into our country “. This “extraordinary threat,” said the White House, “constitutes a national emergency under the international law on economic powers.”
However, Trudeau said that “less than 1% of fentanyl and less than a% illegal passages in the United States come from Canada”.
During the financial year 2024 – From October 1, 2023 to September 30, 2024 – Customs and the protection of American borders indicated that it had seized only 43 pounds of fentanyl on the northern border with Canada, against 21,100 pounds of opioid seized with the southwest border with Mexico.
Trump’s decree recognized that “much less fentanyl [flowed] From Canada to Mexico last year, but “the amount that crossed the northern border could kill 9.5 million Americans”.
Trump’s prices take effect on Saturday: what to know
President Donald Trump and Canadian Prime Minister Justin Trudeau attended the NATO summit on December 4, 2019 in Watford, England. (Dan Kitwood / Getty Images)
Last December, the Canadian government unveiled an $ 895 million plan Strengthen border securityIncluding a strategy to “detect and disrupt fentanyl trade”.
Canadian conservative leaders joined Trudeau to request a quick and serious response at the prices.
In a statement Released on Saturday, official conservative leader of the opposition Stone “condemn[ed] The massive, unjust and unjustified prices of President Trump “and said that Canada should” ride with dollar prices for the dollar aimed at maximizing the impact on American companies while minimizing the impact on Canadian consumers “.
“This means targeting products from us that we can do, buy elsewhere or pass us,” said Hairyvre, whose conservatives conduct public polls and are ready to form the next Canadian government in a general election expected in this spring.
Doug Ford is in his own electoral campaign to keep his progressives in power in the most populous province in Canada, Ontario, and has made the fight against Trump’s prices a central theme.
“President Trump has chosen to go ahead with prices that will only harm America and make the Americans poorer. Canada has no choice but to retaliate and retaliate hard” said Ontario Prime Minister in a X post SATURDAY.
The Canadian government must “continue each legal path to contest these unjust, unjustified and illegal prices,” said Ford. “The next few days and weeks will be incredibly difficult.”
Canada ready for Trump’s price fight while country leaders threaten reprisals: “Dollar-for-Dollar”
The vehicles cross the blue water bridge on the St. Claire river in Port Huron, Michigan de Sarnia, Canada, March 18, 2020. (Jeff Kowalsky / AFP via / Getty Images)
David Eby, Prime Minister of British Columbiaannounced on Saturday that he had ordered the British Columbia alcohol distribution agency to stop buying alcohols in the red republican states and “withdraw the best-selling” red states “marks from the shelves of the shelves public alcohol stores.
The reaction to the Trump prices extended beyond politicians.
Hockey fans of the Ottawa Senators’ Home Match against Minnesota Wild Saturday Night Hue the song of “The Star-Spangled Banner” to express their dissatisfaction.
Charlie Angus, a deputy who represents a district of northern Ontario – larger in geographic size than the United Kingdom – in the House of Commons for the Progressive Party of the new Democrat, told Fox Business that the Liberal Government of Trudeau could wait from Canadians “supporting support that is strong enough to go all the distance” in the process of Trump’s prices.
“People are seriously p — Ed,” said Angus, co-founder of Commitment to CanadaA non -supported group of leaders of politics, work and arts strongly opposed to “threats of economic coercion” and “serious risks” for Canadian sovereignty in response to American prices and the president’s reflections on the annex to Canada
“It unifies us in a whole stroke of different groups which would fight normally between us,” he said.
“We are not only dealing with the threat of prices, but vicious insults against our right to exist as a nation. It is nothing that we have ever seen before.”
Angus said that American functions against Canada will have a “brutally devastating impact” on both sides of the border.
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A view of the roofs of Toronto from Riverdale Park during sunset in Ontario, Canada, March 28, 2024. (Mert Alper Dervis / Anadolu via / Getty Images)
During the first three quarters of 2024, $ 683 billion in goods and services crossed the Canada-American border, according to a recent report TD economy.
In an analysis published last November on the price threat of 25% of Trump against Canada, the Canadian Chamber of Commerce said that the economic benefits would lead to the reduction of the American Gross Domestic Product (GDP), or about $ 467 billion, And a reduction in Canada’s GDP by 2.6%, or about $ 54 billion.
