In a recent press conference in Ottawa, Canadian Prime Minister Justin Trudeau strongly criticized U.S. President Donald Trump’s decision to impose a 25% tariff on Canadian goods, describing it as “a very dumb thing to do.”
Emphasizing Canada’s stance, Trudeau stated, “Canadians are reasonable and we are polite, but we will not back down from a fight.” He announced that Canada would implement reciprocal 25% tariffs on $155 billion worth of American goods. This action will commence with immediate tariffs on $30 billion worth of goods, with the remaining $125 billion targeted within 21 days.
Trudeau underscored the futility of trade wars, asserting that “there are no winners in a trade war.” He affirmed that Canada’s retaliatory tariffs would remain in place until the U.S. withdraws its tariffs. The Prime Minister further criticized the lack of justification for the U.S. tariffs, suggesting that their motive might be to destabilize the Canadian economy to facilitate annexation—a notion he firmly rejected by stating, “We will never be the 51st state.”
Citing a recent editorial from The Wall Street Journal titled “Trump Takes the Dumbest Tariff Plunge,” Trudeau remarked, “Now it’s not in my habit to agree with the Wall Street Journal. But Donald, they point out that even though you’re a very smart guy, this is a very dumb thing to do.”
The escalating trade tensions between the U.S. and Canada have raised concerns about potential economic repercussions for both nations. As the situation develops, stakeholders on both sides of the border are closely monitoring the impact of these tariffs on industries and consumers alike.