(MENAFN- Live Mint) President Donald Trump's decision to impose new tariffs on imports from Canada, Mexico, and China has triggered strong reactions from US trading partners, with Canada and Mexico outlining potential countermeasures and China warning of retaliation.
The tariffs, which take effect Saturday (February 1), include a 25% levy on Canadian and Mexican imports and a 10% tariff on Chinese goods . trump has justified the move as a measure to curb illegal immigration, fentanyl smuggling, and boost US manufacturing, but trading partners argue the move will harm businesses and consumers on both sides.
Canada prepares 'forceful' response
Canadian Prime Minister Justin Trudeau vowed immediate retaliation , warning that Canadian consumers and businesses would face difficult times ahead due to the US tariffs.
“We're ready with a response-a purposeful, forceful but reasonable, immediate response. It's not what we want, but if he moves forward, we will also act,” Trudeau said Friday.
Reports indicate that Canada has drawn up detailed tariff retaliation targets, including duties on Florida orange juice. While an initial list of countermeasures is ready, Canada may hold public consultations before implementing broader tariffs, potentially affecting C$150 billion ($105 billion) worth of US imports.
Trudeau also dismissed Trump 's justification for the tariffs, noting that Canada accounts for less than 1% of fentanyl and illegal crossings into the US.
“These tariffs will have disastrous consequences for the U.S., putting American jobs at risk and causing prices to rise,” he warned.
Mexico adopts 'cool-headed' approach but prepares for response
Mexican President Claudia Sheinbaum took a more cautious stance but signaled that Mexico was ready to act if necessary.
“Now it is very important that the Mexican people know that we are always going to defend the dignity of our people, we are always going to defend the respect of our sovereignty and a dialogue between equals, as we have always said, without subordination,” Sheinbaum said.
MENAFN01022025007365015876ID1109156184
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.