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How world responds to Trump's tariffs is what matters next The world trading system has not been here before. A slide towards a wider trade conflict is very much on the cards, as President Trump prepares similar tariffs firstly against Europe, and then at a lower level universally. ....... "We will retaliate … dollar for dollar" he told the BBC, ridiculing the fentanyl rationale and saying Canada would "stand up to a bully". ......... With tariffs threats being sprayed in multiple directions every day, the world is in uncharted territory.
Trudeau Details Canada’s Retaliation Plans in Emotional Rebuke of Trump Tariffs Even as Canada’s prime minister announced more than $100 billion in retaliatory tariffs, he made clear that he was imposing them reluctantly.......... Mr. Trudeau spoke hours after President Trump hit Canada and Mexico with tariffs of 25 percent on all goods, with a partial carve out for Canadian energy and oil exports. Mr. Trudeau said that Canada would swiftly impose its own “far-reaching” retaliatory tariffs of 25 percent on 155 billion Canadian dollars ($106 billion) worth of U.S. goods. ....... Before Mr. Trudeau’s prime-time address, Canada had indicated that it would tax Florida orange juice, Tennessee whiskey and Kentucky peanut butter — products from states with Republican senators. Mr. Trudeau said on Saturday night that Canada’s tariff list would also include products like beer, wine, vegetables, perfume, clothing, shoes, household appliances, furniture and sports equipment, and materials like lumber and plastics. ...... He added that more measures were being considered, including curbing or taxing energy exports that the United States relies on. ......... Mr. Trudeau expressed regret that the two nations, as well as Mexico — all signatories to a free-trade agreement — now find themselves in a trade war that will upend the flow of goods across North America. ....... “But I know we’re going to make it through this,” he added, “because we have the most successful partnership the world has ever seen.”
