Canadians are bracing for the fallout from tariffs imposed by President Donald Trump, which took effect today. A 25 percent tariff has been placed on on all imports into the United States from Canada and Mexico and 10 percent for Canadian energy-related imports such as crude oil. Additionally, Trump raised tariffs on China from 10 percent to 20 percent. The announcement sent Canadian and U.S. markets tumbling yesterday by nearly two percent on the day.
In response both the federal and provincial governments announced measures to counteract tariffs. In a statement Prime Minister Trudeau said, “Canada will not let this unjustified decision go unanswered.”
Recently re-elected Ontario Premier Doug Ford said at a press conference Monday, “If they want to try to annihilate Ontario, I will do everything, including cut off their energy, with a smile on my face. And I’m encouraging every other province to do the same.”
Trump plans to outline tariffs in more detail during his 2025 joint address to Congress tonight at 9 p.m. (Eastern).
