Canada promises countermeasures to Trump’s tariffs
Photo: Canadian Prime Minister Mark Carney (GettyImages)
Canadian Prime Minister Mark Carney expressed deep disappointment after US President Donald Trump signed an executive order raising tariffs on Canadian goods to 35%.
This involves raising tariffs on Canadian goods from 25% to 35% on all products not covered by the trade agreement between the US, Mexico, and Canada.
“While the Canadian government is disappointed by this action, we remain committed to CUSMA, which is the world's second-largest free trade agreement by trading volume,” Carney says.
The new tariffs, the Prime Minister stresses, will significantly affect key sectors of the Canadian economy, in particular wood, steel, aluminum, and the automotive industry.
He promises decisive action to protect jobs, support domestic producers, increase investment in industrial competitiveness, and expand export markets.
"Canada's government is making historic investments in border security to arrest drug traffickers, take down transnational gangs, and end migrant smuggling," Carney emphasizes.
Trump's customs tariffs
Yesterday, July 31, US President Donald Trump signed an executive order increasing tariffs for about 40 countries, including Canada.
Trump had already imposed large-scale import tariffs. This move shook the world and the markets. However, a few days later, Trump suspended additional tariffs for many countries.
Recently, the US and the EU reached an agreement on a trade deal. Trump announced the introduction of a 15% general tariff on imports from 27 EU countries.
Find out if Trump's new agreement with the EU will help Ukraine in RBC-Ukraine's article.
In addition, Trump promised to impose tariffs on India, one of Russia's largest trading partners.
