President Donald Trump’s 25 percent tariff on all foreign steel and aluminum imports went into effect just after midnight this morning.
Within hours, Ottawa announced dollar-for-dollar retaliation to the tune of nearly 30 billion Canadian dollars.
The response was expected. The countermeasures from Ottawa include 25 percent tariffs on US steel products worth 12.6 billion dollars and 3 billion dollars’ worth of aluminum products. Canada is also targeting another 14.2 billion dollars on other imported American goods.
The new retaliatory tariffs are in addition to the 30-billion dollars in duties already slapped on US imports earlier this month. Dominic LeBlanc, Canada’s finance minister, says the tariffs continue to serve as a disruption to what has historically been a friendly trade relationship.
“Our sole focus is to stand up for Canadian interests, Canadian jobs, and Canadian workers. With these most recent tariffs on Canadian steel and aluminum, the US administration is once again inserting disruption and disorder into an incredibly successful trading partnership and raising the cost of everyday goods for Canadian and American households alike,” LeBlanc said.
LeBlanc added that Ottawa will not stand by while the steel and aluminum industries are under target by the U.S. He was joined in Ottawa by industry minister Francois Philippe-Champagne and foreign affairs minister Melanie Joly.
“Make no mistake, though, this is going to be a day-to-day fight. This is now the second round of unjustified tariffs levelled against Canada and Canadian goods. The excuse for the first round was exaggerated claims about our border. The latest excuse is national security, despite the fact that Canadian steel and aluminum add to America’s security,” Joly said.
The list of other items hit by Canada’s retaliation included tools, computers, display monitors, water heaters, sports equipment, and cast-iron products.
Leblanc and Champagne will travel to Washington tomorrow alongside Ontario Premier Doug Ford for talks with Commerce Secretary Howard Lutnick and other administration officials.