In response to US President Donald Trump's decision to impose tariffs on Canadian steel and aluminium on Wednesday morning, Canada's federal government hits back with tariffs on USD 29.8 billion worth of American goods effective March 13 morning, CBC News reported.
Addressing a news conference, Finance Minister Dominic LeBlanc described Trump's action as "unjustified and unjustifiable."
LeBlanc stated, "We will not stand idly by while our iconic steel and aluminium industries are being unfairly targeted."Further, LeBlanc said the American products being hit with these tariffs include U.S.-made steel and aluminium, computers, sports equipment and certain cast iron products, among others.
US and Canada are embroiled in a trade dispute, with the US imposing metals tariffs that took effect just after midnight. These tariffs are separate from previous ones imposed by President Trump to pressure Canada into tightening its border controls on drugs and migrants.
In response to the initial tariffs, Canada swiftly imposed its own tariffs on USD 30 billion worth of American goods. Notably, Canada did not lift these tariffs even after Trump rejigged his tariff regime, as per CBC News.
Foreign Affairs Minister Melanie Joly said Trump has claimed he needs to impose tariffs now because Canadian steel and aluminium imports pose a "national security threat" -- something she called a bogus and insulting justification.
"The excuse for these tariffs shifts every day. The only constant seems to be President Trump's talks of annexing our country through economic coercion. We will not back down and we will not give in to this coercion," she said. "We need to fight back against this nonsense."
Industry Minister Francois-Philippe Champagne said Trump's tariffs will push up the price of virtually everything US factories produce, given just how dependent they are on Canadian metals. The US, for example, produces only 16 per cent of the aluminum it needs, while 60 per cent of its supply comes from Quebec alone.
Champagne said Trump's relentless trade attacks likely aren't going away anytime soon and Canada needs an attitude shift to become more independent and resilient.
