Canada to Announce 'Countermeasures' Against U.S. Tariff Threats... Signs of Intensifying Trade War
Focus on Retaliatory Tariffs Against the U.S.
Possibility Remains for Resumption of U.S.-Canada Negotiations
Despite additional tariff threats from U.S. President Donald Trump, the Canadian government has refused to back down, opting instead to formalize plans for retaliatory tariffs. As a result, there are increasing signs that a trade war between the two countries will escalate further.
According to the Associated Press and other sources, the Canadian cabinet led by Mark Carney is scheduled to announce its response, including retaliatory tariffs against the United States, on August 25 (local time). This plan comes immediately after President Trump threatened Canadian leaders to "comply," and announced an additional plan to raise tariffs on Canadian automobiles, auto parts, and steel to 50% starting January 1 of next year.
In response, Prime Minister Carney stated the previous day that Canada may move away from a one-to-one reciprocal response to U.S. tariffs and instead implement targeted retaliatory measures designed to protect Canadian workers and businesses.
Bloomberg News, citing sources, reported that the measures will include expanding unemployment benefits and launching loan programs for businesses affected by the tariffs.
However, there is still a possibility that negotiations between the United States and Canada may resume. A Canadian government official revealed in an interview with local media on August 24 that Dominic LeBlanc, Canada's Minister of International Trade, is in contact with Jamieson Greer, the representative of the Office of the United States Trade Representative (USTR). After President Trump warned of tariffs on Canada last month, the two countries continued negotiations, but they were suspended on the night of August 21.
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Since August 22, the United States has imposed a 50% tariff on approximately 20 billion dollars’ worth of Canadian products. In response, Canada has announced plans to impose retaliatory tariffs on U.S. steel, dairy products, home appliances, agricultural machinery, pulp, and more, starting from September 8.
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