Justin Trudeau, the country’s prime minister, declared on Tuesday that it would not back down from its ongoing trade dispute with the US, calling US President Donald Trump‘s levies a “very stupid thing to do.” Trudeau announced 25 % retaliatory tariffs on US imports worth$ 30 billion.
Canadians are fair when they claim that the US started a trade war with Canada. We treat you politely. Trudeau reaffirmed that while he views Trump as a” smart guy,” his trade policies are reckless.” We will not back down from a fight.”
Trump’s final destination Trudeau claims an invasion as a motive
Trudeau went further, claiming that Trump’s final objective is to see the market of Canada” collapse” to ease invasion. Washington is implementing severe tariffs, including 25 % on imports of American and Mexican power, and 10 % on American energy exports.
Trump has argued that the levies must be implemented in order to safeguard American work, as opposed to making Canada the 51st US condition. Trudeau’s remarks, but, represent the most powerful pushback from Canada to date, suggesting a deeper political motivation for the financial conflict.
As business tensions get worse, businesses thump.
International markets responded negatively to the news, with the Dow losing more than 500 points. The taxes, according to economists, may cause inflation and stifle North American supply chains. The countermeasures from Canada, which are scheduled to go into effect in three weeks, did target important US industries like metal and agriculture.
However, Mexico’s President Claudia Sheinbaum vowed to impose punitive taxes, adding yet another level to the growing Northwest United trade dispute. According to experts, Trump’s actions could return US business plan to its most mercantilist position since World War II.
No change in view.
No one appears to be ready to de-escalate despite political efforts. Our taxes will remain in effect until US business restrictions are lifted, according to Trudeau.
The trade conflict is not easing as both nations are digging in, raising concerns about long-term socioeconomic effects for both businesses and consumers on both sides of the border.
