The Canadian government on Tuesday will lay out a slate of retaliatory trade moves in response to President Donald Trump’s latest wave of tariffs.Canada’s finance minister and other senior officials will make the announcement at an event in Ottawa, Ontario at 11 a.m.ET, according to the nation’s finance ministry.The announcement comes after the United States hit scores of Canadian products with new 50% tariffs that went into effect early Saturday.
The new levies followed weeks of trade negotiations broke down, pl the longtime allies on unfamiliar footing.Prime Minister Mark Carney said he pulled the plug on a deal late Friday only after Washington proposed “unfair” and “uneconomic” terms at the last minute.“We could not accept what the U.S.had offered, nor could we give what they asked,” said Carney.American officials refuted Carney’s account of why the talks collapsed.
U.S.Trade Representative Jamieson Greer said Monday that he had “sought to accommodate the Canadians by ...
cutting tariffs in half on steel, on aluminum, and extensively reducing them on, on autos and even on things like, like softwood lumber.”“They simply wanted more,” Greer told CNBC.Carney initially vowed to retaliate “dollar-for-dollar” on Trump’s weekend tariffs.But on Monday he suggested Ottawa might take a more nuanced approach.
The “American economy is much, much bigger,” Carney said, so any Canadian retaliation would likely be “more targeted” than sweeping, according to a translation of his remarks by the Canadian Broadcasting Corporation.Canada’s plan for retaliation against Washington comes as Trump and Canadian officials traded dozens of insults over the past few days.Ontario Premier Doug Ford told a Canadian radio show Monday that Trump could “kiss my a**.” “We’re going to go at him full steam,” said Ford, who has backed Carney’s response to Trump’s tariffs.Ontario Premier Doug Ford called President Donald Trump the “king ...