Trump announced in November that he plans to impose a 25 percent tariff on all products coming from Canada.
Canada is already preparing US$105 billion in tariffs on American products in case the soon-to-be-president Donald Trump will drop tariffs on Canadian products, an official source familiar with the matter tells the news agency For Bloomberg.
According to the source, Canada has already drafted a list of products subject to customs duties and measures will be taken if the Trump administration announces customs duties on Canadian products. In addition, Canada may later impose even more tariffs on American products, depending on how the Trump administration moves forward on the matter.
Trump announced in November that he plans to impose a 25 percent tariff on all products coming from Canada. He said at the time that he would issue an order on the matter as one of his first tasks after taking the oath of office.
So far, there is no information on which American products are on Canada’s preliminary list. When Trump imposed tariffs on Canadian steel and aluminum in his first term in 2018, Canada responded by imposing tariffs on numerous American products, including whiskey and washing machines. By imposing tariffs on the products in question, Canada wanted the effect to be felt especially in factories in those regions of the United States where Republican politicians hold power.