Canada announced retaliatory tariffs on U.S. imports after President Donald Trump imposed 25% tariffs on most Canadian products.
Canada will levy 25% tariffs on CA$30 billion (US$21 billion) worth of American goods, Canadian Prime Minister Justin Trudeau said on Saturday after chairing the Cabinet meeting and hosting a virtual meeting with provincial and territorial premiers.
Trudeau said the tariffs would then be applied to another CA$125 billion worth of goods in 21 days.
American beer, wine and spirits, along with vegetables, clothing, shoes and perfume, will be among the first items, as well as household appliances, furniture, and sports equipment, he said.
Trudeau added that more non-tariff trade actions are still to be decided but could include restrictions on exporting critical minerals and energy products to the United States and a move to block American companies from bidding on government contracts.
British Columbia Premier David Eby said on Saturday that Trump’s tariffs “completely betray the historical bond between our two countries.”
Eby said he ordered liquor stores in British Columbia to immediately stop purchasing American liquor from Republican-led “red” states and instructed the government, including the health department, to immediately stop purchasing American goods.
The Canadian Chamber of Commerce said that with 25% tariffs and full retaliation, Canada’s real GDP would decline by 2.6=, costing an average of CA$1,900 per household annually.
In the United States, GDP would fall by 1.6%, costing an average of US$1,300 per household.
On Saturday, the Trump administration imposed tariffs on imports from Canada, Mexico, and China. The tariff order on Canada is 25% on all imports and 10% on energy products. (Xinhua)