‘Until threat is gone for good’: Canada hits US with $20.7bn tariffs over ‘unjustified’ steel levies
World: Finance Minister Dominic Leblanc described the US tariffs as "unjustified and unreasonable," adding that Canada’s retaliation was necessary to defend its industries.
Canada has announced fresh tariffs on American products worth $20.7 billion in response to US tariffs on Canadian steel and aluminum. The retaliatory measures, which come into effect on Thursday, target a range of goods, including computers and sports equipment.
Finance Minister Dominic Leblanc described the US tariffs as "unjustified and unreasonable," adding that Canada’s retaliation was necessary to defend its industries. The move follows President Donald Trump’s decision to impose a 25% duty on Canadian steel and aluminum exports.
Ontario Premier meets Prime Minister-elect Mark Carney
Ontario Premier Doug Ford, a vocal advocate for Canada’s response to Trump's tariffs, met with Prime Minister-elect Mark Carney to discuss the situation.
"This morning, I met with Mark Carney, Canada’s incoming prime minister for a positive and productive discussion. We agreed on the need to stand firm and strong in the face of President Trump’s threats, including additional retaliatory tariffs in response to U.S. tariffs on steel and aluminum, which will raise costs for American businesses and families," Ford said.
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He added, "Team Canada has risen to the challenge and proven that no one should ever underestimate the strength and resilience of the Canadian people. Together, we will get through this more united than ever before."
Ford also affirmed Canada’s determination to resist US pressure. "Canada won’t relent until the threat of tariffs is gone for good. I look forward to sitting down with U.S. Secretary of Commerce Howard Lutnick and members of the Trump administration’s economic team tomorrow," he said.
Talks on trade and electricity exports
Ford said that Secretary Lutnick had reached out to discuss the future of the United States-Mexico-Canada Agreement (USMCA), particularly in light of Ontario’s 25% surcharge on electricity exports to the US.
"Facing the cost of Ontario’s 25 per cent surcharge on electricity exports, Secretary Lutnick extended an olive branch to start a conversation about the future of the United States-Mexico-Canada Agreement. Over the coming weeks and months, I’m going to work with Secretary Lutnick, our federal partners and every premier in good faith toward a free trade deal that’s fair for both countries," Ford said.
EU joins the fight with $28.3 billion tariffs
In a separate but related development, the European Union has announced new tariffs on $28.3 billion worth of US goods in retaliation for America’s latest metal tariffs.
(With inputs from agencies)
