Canada Is Ready to Retaliate Against US Tariffs, Foreign Minister Says
Published On Mar 3, 2025, 4:27 PM
Canada is preparing to impose a series of counter-tariffs on approximately C$30 billion (around $20.6 billion) of U.S. goods, following the U.S. government's confirmed implementation of tariffs against Canada and Mexico. The retaliatory tariffs will primarily target products including orange juice, peanut butter, and vehicles, amongst others. This response signifies a potential trade conflict which could impact economic relations and job markets in both countries. The news has led to a noticeable decline in the Canadian dollar and Canadian stocks, with the S&P/TSX Composite Index experiencing a significant drop of 1.5%.
Stock Forecasts
C
Negative
The situation indicates increasing tensions in U.S.-Canada trade relations, likely leading to a prolonged tariff conflict. This escalation could put pressure on both Canadian and affected U.S. companies, especially in sectors reliant on exports and imports, such as automotive and agriculture.
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