If President Donald Trump ends his trade conflict, Ontario’s top Doug Ford backed Canada’s ability to lift its tariffs on American goods.
Ford responded to a query about Canada’s$ 60 billion in punitive tariffs on American goods in a CNBC interview on Wednesday morning, implying that Trump has the upper hand.
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Ford has previously had diplomatic conversations with American authorities and is now the head of Canada’s Council of the Federation of Premiers. Nevertheless, it should be noted that the federal government is ultimately responsible for the taxes that are imposed on some U.S. items.
If he removed all the taxes, we’d been prepared to do that tomorrow. Ford asserted that” we are not the problem.”
The United States introduced a 25 % global tax on all imported steel and aluminum next month. Trump initially imposed a blanket 25 % tariff on all products from Canada and Mexico, but later removed those that are in compliance with the North American free trade agreement, despite the exemption set to expire on Wednesday.
Trump’s coming “reciprocal” tariffs, which are scheduled for release at 4 p.m., have not yet been made public by Prime Minister Mark Carney. The federal government has recently stated that it is ready to proceed with tariffs on a full of$ 55 billion worth of U.S. goods.
For its part, Ontario has taken a number of punitive measures, including removing all American-made beverages from LCBO stores, outlawing state purchasing, and imposing and subsequently rescinding a 25-percent income on energy sent south of the border.
Trump has also imposed a 25 % tax on all imported cars, which will start being collected on Thursday in addition to the reciprocal taxes that are anticipated to be announced later today. However, Ford has stated that any car produced in Ontario that contains at least 50 % U.S. elements would not be subject to the work following a dialogue with U.S. Commerce Secretary Howard Lutnick next year.
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Nevertheless, Mexico appears to be reversing its support. Immediately prior to President Donald Trump’s anticipated tax news, Mexican President Claudia Sheinbaum stated on Wednesday that Mexico has no plans to impose punitive taxes on the country.
Sheinbaum stated at her regular morning media conference that Mexico does “announce a detailed plan, not a tariff tit-for-tat.”
Let’s see what news they make, Sheinbaum continued,” We have a program to strengthen the economy under any circumstances.”
Trump’s tariff announcement is scheduled for 4 p.m. ET ( 2500 GMT ).
Sheinbaum has so far spoken thoroughly about the possibility of punitive tariffs against the United States, not outright, but calling for quiet and saying the emphasis must be on preserving the Mexican market.
The president, who has over 80 % approval ratings, has won praise for her managing of Trump and has avoided using the phrase “war of words” when it comes to American leaders.
However, economists have no doubt that significant U.S. tariffs could cause a downturn if they are in place for an extended period of time.
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I’m telling you, Trump is aware of his actions.
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