Trade agreements or announcements from the U.S. government

Trudeau Pledges 'Dollar-for-Dollar' Tariffs as Trump Threatens 25% Duty on Canada

Jan 21, 2025, 04:44 PM

Canadian Prime Minister Justin Trudeau has stated that Canada is prepared to respond strongly if U.S. President Donald Trump follows through on his threat to impose sweeping 25% tariffs on Canadian imports starting February 1. Trudeau emphasized that Canada is "absolutely ready to respond" with a "robust, rapid, and measured" response, and that "everything is on the table," including the possibility of "dollar-for-dollar matching tariffs" against the United States. He acknowledged that retaliatory measures could cost Canadians but assured that the federal government would support and compensate businesses impacted. The Prime Minister highlighted that Canada's resources are essential for the U.S.'s promised "golden age," suggesting that if the U.S. imposes tariffs, it may need to turn to countries like Russia, China, or Venezuela for resources. Trudeau's comments come after Trump renewed his tariff threats following his recent inauguration, signaling potential strains in U.S.-Canada trade relations.