Summary
Canadian Prime Minister Justin Trudeau announced retaliatory tariffs after Donald Trump confirmed 25% tariffs on Canadian goods and 10% on energy, set to take effect at 12:01 a.m. Tuesday.
Trump justified the move by linking it to fentanyl smuggling concerns.
Trudeau called the tariffs “unjustified” and imposed 25% tariffs on $155 billion in U.S. goods, with $30 billion effective immediately and the rest in 21 days.
He warned of price hikes and job losses in the U.S., arguing the move violates Trump’s own trade agreement from his last term.
Excuse my ignorance but wouldn’t that make things more expensive for Canadians as well?
:edit: thank you all for answering me. I totally understand now.
Fuck trump
Yes, but items are targeted to inflict the least amount of pain. We don’t neeed orange juice or bourbon for example.
Yes, tariffs increase prices in almost any case they’re implemented, which is the goal. Trudeau seems to be hoping that by adding these tariffs, it will become even easier to shift consumer behavior to buy non-American made goods, which could possibly either lead Trump to reduce/remove his tariffs, or at least make Americans feel more of the economic impact of those reductions in sales, which could then push more people to go against Trump politically.
Only on American products. Canadian products theoretically will cost the same.
Maybe in Canada. In the US, I fully expect corporations to increase domestic prices by 15-20%, and still have the more attractive option for consumers. If and when the tariffs are dropped, it is unlikely that prices will go back down. Trump essentially just created a permanent new regressive tax, affecting the poorest of US citizens the worst.
Anyone want to place a bet for what he blames it on? I’m hoping he goes for the classic Obama excuse.
https://youtu.be/bOR38552MJA