As previously announced, the 25% US tariff on Canadian and Mexican goods and an additional 10% tariff on Chinese imports went into effect at midnight . In response , Canadian Prime Minister Justin Trudeau announced a 25% tax (effective immediately) on US imports worth C$30 billion.
Tariffs on another $125 billion in Canadian dollars will go into effect later this month. Canada will impose 25% tariffs on $155 billion in American products. Justin Trudeau announced, explaining that the tariffs will start immediately on $30 billion in U.S. products, while the remaining $125 billion will go into effect in 21 days. "Canadians are reasonable and polite. But they will not back down from a fight, especially when it's the country and the well-being of everyone" who lives there, Trudeau said.
Meanwhile, global stock markets have reacted immediately to the “tariff war”. “Wall Street and all global stock markets have collapsed: these are the first effects of Donald Trump’s wicked policy on tariffs. Never mind cutting aid to Ukraine! With these absurd decisions by Trump, it will end up with the United States having to ask for humanitarian aid”, wrote Sandro Gozi, MEP for Renew Europe and secretary general of the European Democratic Party, on X.
(Online Union)
