January 11, 2025 02:45 PM (IST)
Items Canada is considering include ceramics, steel and furniture, and U.S. energy exports could be targeted as a “last resort,” officials said.
Canadian authorities are compiling a list of U.S. exports to impose retaliatory tariffs if U.S. President-elect Donald Trump follows through on his threat to use “economic power” against Ottawa, CNN reported. .
Targeted items include ceramics, steel, furniture, alcoholic beverages, orange juice, and pet food. He added that Canada is also considering taxing U.S. energy exports as a “last resort.”
“I think we have to be ready,” Canadian Foreign Minister Mélanie Joly said, but sources told the channel that no final decision on retaliatory tariffs had yet been made.
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Jolly said it’s important that President Trump understands the potential impact of his threats and recognizes that Canada has its own “influence” to rely on.
Jolie opts out of leadership race
Jolie withdrew from the Liberal Party leadership race on Friday after Prime Minister Justin Trudeau resigned as party leader on Monday. Jolie stressed the need to dedicate “every minute” of her time to protecting the interests of Canadians given the economic threat posed by President Trump.
“While we know we are poised to become the first woman to lead the Liberal Party of Canada, the current international situation, particularly the unwarranted threat of tariffs and other economic pressure from the next president of the United States, requires a firm and immediate response.” This is what is happening now,” she said in a letter posted to X.
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Canada is the United States’ largest trading partner. The U.S. government imported $419 billion worth of Canadian goods in 2023. Canada is also the largest source of foreign oil to the United States.
According to statistics released by the Canadian government, the only country with a larger trade surplus in November 2024 is the United States. “Exports to the U.S. increased by 6.8% in November, and imports increased by 4.1%. As a result, Canada’s trade surplus with the U.S. expanded from $6.6 billion in October to $8.2 billion in November.” says the report.
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