Trade War: Canada Imposes Strict Sanctions on the US Totaling $155 Billion

Canada has announced the implementation of a 25% tariff on American goods totaling $155 billion in response to recent U.S. trade measures. Prime Minister Justin Trudeau emphasized that these actions are aimed at protecting the national interests and economy of the country, reports NewsBox. 

In reaction to President Donald Trump's decision to impose tariffs on imports from Canada, Mexico, and China, the Canadian government announced the introduction of a 25% duty on American products valued at $155 billion. Prime Minister Justin Trudeau stated that starting February 4, tariffs will apply to goods worth $30 billion, and an additional $125 billion in tariffs will be introduced 21 days later to allow Canadian businesses time to seek alternative suppliers.

Trudeau noted that these measures are a response to U.S. actions, which have imposed a 25% duty on most Canadian goods, except for energy resources which have a rate of 10%. He stressed that such actions violate free trade agreements between the countries and could lead to increased prices for American consumers on food and other goods.

The Canadian Prime Minister also announced that they are considering additional non-tariff measures, including restrictions on the export of critically important minerals and energy resources. He urged citizens to support local producers and reconsider their travel plans to the U.S.

Previously, President Trump justified the introduction of tariffs by the need to combat drug smuggling, claiming that Canada, Mexico, and China facilitate their entry into the U.S. However, these measures have drawn criticism from economists, who warn about the potential slowdown in economic growth and rising inflation in both countries.