‘The Backside Line’ panelists Lee Carter and Liz Peek give their tackle President Donald Trump confirming the 25% tariffs.
Canadian Prime Minister Justin Trudeau introduced 25% tariffs on American items in response to President Donald Trump’s tariffs which can be going into impact on Canadian imports at midnight on Tuesday.
The retaliatory tariffs Canada is imposing on $155 billion of U.S. items take impact Tuesday at 12:01 a.m.
Trump signed an govt order authorizing a further 25% tariff on imports from Canada and Mexico, and a further 10% tariff on Chinese language imports. Power imported from Canada, together with oil, pure gasoline and electrical energy, can be taxed at a further 10%.
China has since imposed tariffs on U.S. items and Mexico has vowed retaliatory tariffs.
TRUMP TARIFFS ON MEXICO, CANADA, CHINA ARE HOURS AWAY FROM HITTING AT MIDNIGHT
U.S. President Donald Trump and Canadian Prime Minister Justin Trudeau attend the NATO summit on the Grove Lodge on December 4, 2019, in Watford, England. (Dan Kitwood/Getty Photos / Getty Photos)
The Trump administration agreed final month to a 30-day delay in imposing the 25% tariffs on Canadian and Mexican items. Officers from each international locations have carried out negotiations with the Trump administration in latest weeks, however there was no settlement to scale back the tariffs.
Trudeau mentioned Monday “there is no justification for these actions,” pointing to the White Home’s argument that the move of medication, together with fentanyl, into the U.S. warranted the tariffs on Canada, Mexico and China, although the quantity of fentanyl coming throughout the northern border may be very low.
“While less than 1% of the fentanyl intercepted at the U.S. border comes from Canada, we have worked relentlessly to address this scourge that affects Canadians and Americans alike,” Trudeau mentioned in a press release. “We implemented a $1.3 billion border plan with new choppers, boots on the ground, more co-ordination, and increased resources to stop the flow of fentanyl.”
WHAT’S HAPPENING WITH TRUMP’S TARIFFS ON CHINA, CANADA AND MEXICO?
Justin Trudeau, Canada’s prime minister, speaks on the Nationwide Caucus vacation get together in Ottawa, Ontario, Canada, on Tuesday, Dec. 17, 2024. (Kamara Morozuk/Bloomberg by way of Getty Photos / Getty Photos)
“We appointed a Fentanyl Czar, listed transnational criminal cartels as terrorist organizations, launched the Joint Operational Intelligence Cell, and are establishing a Canada-U.S. Joint Strike Force on organized crime,” he continued. “Because of this work – in partnership with the United States – fentanyl seizures from Canada have dropped 97% between December 2024 and January 2025 to a near-zero low of 0.03 pounds seized by U.S. Customs and Border Protection.”
Trudeau mentioned Canada “will not let this unjustified decision go unanswered” and introduced that tariffs on American items would go into impact at 12:01 a.m. if the Trump tariffs go into impact at midnight as promised.
Canada mentioned it’ll begin with tariffs on $30 billion price of American items, adopted by tariffs on $125 billion of American merchandise in 21 days.
U.S. President Donald Trump speaks to reporters within the Oval Workplace of the White Home on February 3, 2025, in Washington, D.C. (Anna Moneymaker/Getty Photos / Getty Photos)
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“Our tariffs will remain in place until the U.S. trade action is withdrawn, and should U.S. tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures,” the prime minister mentioned. “While we urge the U.S. administration to reconsider their tariffs, Canada remains firm in standing up for our economy, our jobs, our workers, and for a fair deal.”
Trudeau mentioned Individuals can pay extra for groceries, gasoline and automobiles, and will lose hundreds of jobs on account of Trump’s tariffs.
“Tariffs will disrupt an incredibly successful trading relationship,” he mentioned. “They will violate the very trade agreement that was negotiated by President Trump in his last term.”
