Trudeau says Americans will pay more whenever Trump decides to impose tariffs
Business
“We don’t think he wants that,” Trudeau told reporters in Ottawa.
TORONTO (AP) — Outgoing Canadian Prime Minister Justin Trudeau said Thursday American consumers will pay more whenever President Donald Trump decides to apply sweeping tariffs on Canadian products.
Trump told reporters in the Oval Office Thursday that he still plans to tariff Canada and Mexico at 25% rates starting as soon as Feb. 1. Trump previously threatened to impose sweeping new tariffs on Mexico, Canada and China as soon as he took office but the tariffs weren’t applied on day one.
Trudeau said if Trump does go forward “whether it be back on Jan. 20th, on Feb. 1st or Feb. 15th as a Valentines Day present, or on April 1st or whenever” Canada will respond with retaliatory tariffs and “prices for American consumers on just about everything will go up.”
“We don’t think he wants that,” Trudeau told reporters in Ottawa.
By targeting America’s second largest trading partner after Mexico, Trump risks upending the markets for autos, lumber and oil — all of which could carry over quickly to consumers.
The premier of oil-rich Alberta, Danielle Smith, said Americans in some states could pay more than a dollar per gallon more for gas if Trump puts the tariff on Canadian oil.
Despite Trump’s repeated claim that the U.S doesn’t need Canada, nearly a quarter of the oil America consumes per day comes from Canada.
America’s northern neighbor also has 34 critical minerals and metals that the U.S. is eager for and is also the largest foreign supplier of steel, aluminum and uranium.
“The U.S. should be working even more with Canada on our energy, on our critical minerals, on the goods they need to deliver the economic growth that Donald Trump has promised,” Trudeau said.
“That is our first choice. If they do move forward on tariffs we are ready to respond in a strong way but in a way ... to figure out how to get them removed as soon as possible.”
