Trudeau Calls Trump’s Trade Move ‘Dumb’, Hits Back With 25% Tariffs On $30 Billion Of US Imports- wna24

Toronto: Canadian Prime Minister Justin Trudeau lambasted US President Donald Trump’s decision to impose tariffs on Canadian imports, calling it a “dumb thing to do”. Trudeau’s attack on Trump came up following Canada’s retaliation with 25% tariffs on $30 billion worth of US imports in Canada. The Canadian administration’s move to impose tariffs on the United States’ goods has escalated the trade tensions between the two nations. Additionally, Trudeau’s verbal attack on Trump is seen as a non-repairable break in the US-Canada bilateral relations. 

The US initially imposed a 25% tariff on all imports from Canada and Mexico, with the exception of 10% on Canadian crude oil and energy. In response, Canada announced its own set of tariffs, targeting $30 billion worth of US goods. Not only Canada, Mexico has also pledged to announce its retaliatory tariffs on March 9. The tit-for-tat exchange between the nations has raised concerns about a possible trade war and its far-reaching consequences for the global economy.

Trump also announced that a reciprocal tariff would be imposed on the nations across the globe. 

The rift between Trump and Trudeau has been widening since the US president’s decision to impose tariffs on Canadian imports. Trudeau has been vocal in his criticism, calling the move “unacceptable” and “counterproductive”. Trump, on the other hand, has remained defiant, insisting that the tariffs are necessary to address issues related to drug trafficking and illegal immigration.

As the trade tensions between the US and Canada continue to escalate, the global economy is bracing for the impact. The tariffs imposed by both nations are likely to lead to increased consumer prices, reduced trade volumes, and a potential slowdown in economic growth. The situation remains fluid, with the international community watching anxiously as the situation unfolds.

The European Union has also been drawn into the trade dispute, with Trump threatening to impose tariffs on EU goods unless the bloc reduces its trade surplus with the US.