Prime Minister Justin Trudeau of Canada Considers 'Non-Tariff Retaliation' for 25% Tariff on US Products
Summary
- Prime Minister Justin Trudeau of Canada announced a 25% retaliatory tariff on US products.
- He explained that non-tariff measures related to critical minerals and energy procurement are also being considered.
- Prime Minister Trudeau stated that he is collaborating with Mexico to respond to the US tariffs.
Holds Press Conference to Announce Tariff on $155.6 Billion Worth of US Products
Prime Minister Justin Trudeau of Canada announced retaliatory tariffs against the United States after President Donald Trump imposed a 25% tariff on Canadian products.
In a press conference held late that night, Prime Minister Trudeau stated that a 25% tariff would be imposed on US products worth 155 billion Canadian dollars (approximately 155.6 trillion won). He explained, "Tariffs on products worth 30 billion Canadian dollars will take effect from the 4th, and tariffs on the remaining 125 billion Canadian dollars worth of products will take effect 21 days later."
Prime Minister Trudeau also mentioned that several non-tariff measures, including those related to critical minerals, energy procurement, and other partnerships, are being considered. He urged Canadians to buy domestic products and spend their vacations in Canada.
Additionally, Prime Minister Trudeau stated that he is "working with Mexico" to respond to the US tariffs. He also mentioned, "I have been trying to reach out to President Trump since his inauguration and hope to speak with him soon."
Reporter Song Jong-hyun scream@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
