Canada braces for prolonged trade war as counter-tariffs on US take effect

Sincity Press Staff 4 hours ago 2 min read 3
Sincity Press Brief

It is the latest escalation since trade talks collapsed in late August, with US officials threatening to hit back if Canada’s counter-tariffs are implemented.

Canada's retaliatory tariffs connected a scope of US goods came into effect connected Tuesday, with nary motion of a commercialized woody connected the horizon.

The counter-tariffs volition use to astir C$28bn ($20bn; £15bn) worthy of American products, from alloy to furnishings to fabric T-shirts, and volition beryllium arsenic precocious arsenic 50%.

Fresh food and lobster were besides connected the list, but Canada aboriginal omitted them aft pushback from its seafood manufacture - a motion of the tricky equilibrium it has to onslaught arsenic it retaliates against its largest trading partner.

Both US and Canadian officials person said they would similar to onslaught a deal, but nary question has been made to resume talks aft they collapsed successful precocious August.

Speaking to reporters past week, Prime Minister Mark Carney said that Canada is inactive successful hunt of a woody with the US that is "durable" and successful the champion interests of some countries.

"We're acceptable to beryllium down and and onslaught that woody erstwhile the Americans are ready," Carney said.

US commercialized typical Jamieson Greer, meanwhile, said connected Thursday that the shot is successful Canada's court.

"We offered them the champion deal, they looked astatine it quadrate successful the look and turned around," Greer said successful an interrogation with Fox News, adding that determination has been sparse connection with the Canadians since talks collapsed.

In a abstracted interrogation with Canadian broadcaster CBC, Greer cautioned against retaliation and suggested the US mightiness deed backmost by banning the import of immoderate Canadian products.

President Donald Trump threatened connected Monday to halt each US concern with Canada-based airplane shaper Bombardier unless it moved its manufacturing south.

The institution is 1 of the largest successful the country, contributing implicit C$7bn to Canada's yearly GDP successful 2024, according to a study commissioned by Bombarier by nationalist accounting steadfast PwC.