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Economic news
21.01.2025

Canada's PM Trudeau: Canada will respond if U.S. imposes tariffs

Canada's Prime Minister Justin Trudeau, who is set to resign after a new leader of his Liberal Party is chosen in March, stated that the country will respond if U.S. President Donald Trump imposes 25 per cent tariffs on Canadian imports. He emphasised that Canada's reaction would be robust, rapid, and measured.

Trudeau highlighted that his government has already taken steps to address Trump's concerns about the border, reiterating the importance of maintaining a strong economic relationship between the U.S. and Canada.

He also expressed his belief that the "golden age of the U.S." would require Canadian resources and underscored his support for the idea of dollar-for-dollar retaliatory tariffs, though he stressed that Canada's primary focus remains on avoiding tariffs altogether.

Trudeau described Trump as a skilled negotiator who aims to keep his negotiating partners off balance but reaffirmed Canada's commitment to staying steady in defending its economic ties with the U.S.

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