Trump signs executive order imposing 25 per cent tariffs on Canada starting Tuesday
Canadian energy to face 10 per cent tariff; orders reportedly include retaliation clause
United States President Donald Trump followed through on his threat to impose tariffs on imports from Canada on Saturday, signing executive orders that will enact a 25 per cent tariff on all Canadian goods and 10 per cent levy on Canadian energy, according to U.S. media reports.
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Both tariffs are set to take effect at 12:01 a.m. Tuesday morning.
A similar 25-per-cent duty has been levied against Mexican goods while a 10 per-cent tariff is being applied to Chinese imports.
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Prime Minister Justin Trudeau met with cabinet members and premiers Saturday afternoon to discuss the tariffs and Canada’s response.
According to media reports, the executive orders include a retaliation clause that gives the president the leeway to expand the scope of the tariffs if Canada responds in kind.
Earlier this week, the Bank of Canada said a protracted trade war with 25-per-cent tariffs would lead to a recession, shrinking Canada’s economy by as much as three per cent. Nearly $3.6 billion of Canada-U.S trade crosses the border every day, amounting to a $1.3 trillion trading relationship annually.
More to come…
