In a direct response to President Donald Trump’s recent tariff impositions, Canadian Prime Minister Mark Carney announced a limited set of countermeasures aimed at shielding the Canadian economy from the impacts of the U.S. trade policies. Speaking to the media on Thursday, Carney described Trump’s protectionist moves as a “tragedy” for the international trade system, signaling the growing tensions between the two nations.
As part of Canada’s response, Carney revealed that the government would implement a 25% tariff on U.S. vehicles that fail to comply with the provisions of the US-Mexico-Canada trade agreement (USMCA). However, he noted that this measure would exclude auto parts and would not affect vehicle components imported from Mexico.
Despite the retaliatory actions, Carney stressed that Canada was not seeking to escalate the trade dispute but instead hoped to prompt a reassessment of U.S. policy. “While these measures may affect the American people, it is my hope that the U.S. administration will eventually reconsider its path. However, I’m not raising false expectations,” Carney remarked.
The Prime Minister further underlined that Canada’s previously imposed tariffs would remain in place, acknowledging that it might take an extended period for the U.S. to change its approach to global trade.
Trump’s recent tariffs, which included a 10% levy on all U.S. imports along with significantly higher duties on certain countries, triggered a wave of market uncertainty. The financial community responded with caution, fearing that these tariffs could disrupt the global trade landscape and lead to widespread economic ramifications.
More Read
In his comments, Carney reflected on the historical role the United States has played in shaping the global economy. “The era in which the U.S. led the global economic stage, fostering alliances built on trust and promoting free trade, seems to have come to an end. This represents a profound loss for the global community,” Carney concluded.
