If US President-elect Donald Trump implements his plans to implement 25 % tariffs on American goods, the looming danger of a trade war between Canada and the United States, according to American foreign minister Melanie Joly, could become the most important in years.
Joly described the potential conflict as a” trade war” being started by the US at a press conference in Washington on Friday, praising Canada for being” Trump tax” on the US if necessary.
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” We are ready to throw maximum strain”, Joly said, adding that it would be the “biggest trade war between Canada and the US in years”. Prime Minister Justin Trudeau echoes Trump’s concern about tariffs that even targeted China and Mexico, having significant effects on American consumers and jobs.
Trudeau, who has stressed Canada’s desire to avoid a trade war, confirmed that the country is prepared for a” solid and emphatic” response. Nothing is off the board, he said, adding that punitive measures would be put in place to ensure fairness throughout Canada. These measures may involve tariffs on several American goods, including metal products, glass, and yet Florida orange juice, according to reports by information company AFP.
The government of Canada is even considering the possibility of ending energy imports, a suggestion that has sparked controversy. Alberta’s Premier Danielle Smith has opposed the walk. However, Ontario Premier Doug Ford has called for a unified American response, stressing that Trump’s activities affect all Canadians, not only specific areas.
The effects of a trade conflict on the economy might be devastating. According to experts, the GDP of Canada may decline by more than 5 %, and the rate of inflation and unemployment rates could increase drastically. With practically$ 3.6 billion in goods and services passing the border each day, and Canada serving as the top export location for 36 US states, trade between the two countries is crucial.
As the US president-elect prepares for his inauguration, his position on trade has drawn strong criticism. Trump’s repeated claims that Canada might one day become the state may face strong opposition from American leaders. Jagmeet Singh, president of Canada’s New Democratic Party, described Trump as a” clear danger” to Canada’s business and labor. Singh warned that Trump’s tax risks do increase Canada’s already expensive existing conditions.
Singh has even called for robust measures, including stopping the US from receiving crucial minerals, which he claims will effectively power Trump to reconsider his position. ” If he wants to get a duel with Canada, we have to make sure it’s clear that it’s going to hurt American as well”, Singh said.
