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01 Feb 2025

Canada and Mexico Launch Retaliatory Measures Against US

In a response that could add momentum to an escalatory cycle, Prime Minister Justin Trudeau this evening said “Canada will be responding to the US trade action with 25 percent tariffs on $155 billion dollars worth of American goods,” including immediate tariffs on $30 billion as of Tuesday, and another $125 billion in 21 days* to allow Canadian companies to seek alternatives”. “This is a threat against our whole country,” he said, and “as part of our response, we are considering, with the provinces and territories, several non-tariff measures including some related to critical minerals, energy procurement, and other partnerships”....

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Trump Imposes Sweeping Tariffs on Canada and Mexico, Threatening to Ignite Global Trade War

Ending—and beginning—weeks of speculation, President Donald Trump has delivered details of his tariff plan to officials in Ottawa and Mexico City, raising taxes on most imports from Canada and Mexico to 25 percent, in a move that is likely to generate upheaval in the world’s largest integrated trading area and trigger another round of disruption in foreign exchange markets. According to major Canadian news networks*, the president intends to authorise the implementation, as of Tuesday, of 25-percent tariffs on virtually all goods imports, alongside a 10 percent levy on Canadian oil and gas products. If deployed immediately, the increase would...

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