Canadians woke up to a harsh new economic reality today as U.S. President Donald Trump’s sweeping tariffs officially took effect at 12:01 a.m. ET. The executive order imposes a 25% tariff on all Canadian goods, with a 10% levy specifically on energy exports, escalating tensions between the two nations.
Outside of keeping business in the U.S., border concerns continue to be the major concern for Trump, and he felt it was about time America pushed back with tariffs.
Canada is set to hit back with tariffs on $30 billion worth of U.S. goods, with additional measures on $125 billion more in three weeks. In Ontario, Premier Doug Ford is doubling down on economic protectionism in response to U.S. tariffs. Speaking at a Toronto mining conference fresh off his re-election, Ford said he is considering “Buy Ontario” legislation to prioritize domestic products in government procurement.
Ford said when it comes to fighting back, all options are on the table.
Ford is urging retailers to voluntarily label Canadian-made products-warning that mandatory measures could follow.
Prime Minister Justin Trudeau wasted no time in responding, announcing immediate countermeasures with tariffs on $30 billion worth of American goods, with additional penalties on $125 billion in three weeks.
Written by: M. Leblanc