Canada preparing retaliatory tariffs to unveil as soon as Trump’s inauguration day

The Trudeau government prepares to unveil counter-tariffs in response to Trump’s threats

The Trudeau government is gearing up to introduce a first round of counter-tariffs in response to the looming threat of tariffs imposed by incoming U.S. president Donald Trump. These counter-tariffs, which could be revealed as early as Monday, are designed to target $37 billion in goods that are deemed to have a lesser impact on the Canadian economy.

Trump has previously issued warnings of imposing a 25 per cent across-the-board tariff on Canadian goods, prompting Canada to take proactive measures to protect its interests. In addition to the initial round of counter-tariffs, the Canadian government is also preparing for the possibility of implementing additional retaliatory tariffs that could cover up to $110 billion worth of goods, depending on the actions of the Trump administration.

If Trump follows through with imposing tariffs after his inauguration, the initial retaliation from Canada could come as soon as Monday. However, a period of consultation lasting between 15 to 30 days would be necessary before the tariffs can be enforced.

Prime Minister Justin Trudeau recently convened with the newly established Canada-U.S. relations council in Toronto, which was formed to provide support to the government in dealing with the tariff threat from Trump. This council, comprised of 18 members from various sectors including auto, unions, industry, and agriculture, met to strategize on how best to respond to the potential tariffs.

During the meeting, Trudeau emphasized Canada’s readiness to take action if necessary, stating, “If the incoming administration moves forward with tariffs, we will not hesitate to act. We will respond … everything is on the table.” He also underscored the importance of unity in the face of a possible trade war, ensuring that all Canadians stand together to support any region or industry that may bear a heavier burden as a result of the tariffs.

In the event of a trade war, Trudeau stressed the need for Canada to demonstrate that there are no winners in such conflicts, while also providing assistance to those most affected by the tariffs. “We’re in this together,” he declared.

As the situation continues to unfold, it remains to be seen how the Trump administration will proceed and how Canada will navigate the complex landscape of international trade relations.

Stay tuned for further updates on this developing story.