Canada Maintains Trade Retaliation Against U.S. Tariffs

Mark Carney, Canada’s incoming prime minister, stated that his government will uphold trade retaliation against U.S. until the removes its tariffs and demonstrates a commitment to free trade. “My administration will maintain our tariffs until the Americans grant us due respect and present credible and reliable commitments to free and fair trade,” Carney declared in a statement.

Trump Raises Tariffs on Canadian Steel and Aluminum

U.S. President Donald Trump announced a 50% increase in tariffs on Canadian steel and aluminum. The measure comes in response to Ontario’s 25% surcharge on electricity exports to the U.S.

Ontario Suspends Surcharge After Trade Negotiation

Ontario Premier Doug Ford decided to suspend the surcharge after reaching an agreement with Commerce Secretary Howard Lutnick. The deal will allow discussions on renewing the North American trade treaty. Ontario, Canada’s most populous province, exports electricity to Minnesota, New York, and Michigan.

Canada Maintains Tariffs Against the U.S.

Canada continues to impose 25% tariffs on C$30 billion ($20.7 billion) worth of U.S. goods. This measure, implemented last week, is a response to Trump’s broad tariffs on Canadian imports.

Trump and Xi Jinping Explore Key Summit Amid Trade Tensions

President Trump and Xi Jinping have initiated discussions about a potential “birthday summit” in June in the U.S., according…

Tariff Exemptions and Trade Retaliation

Although Trump exempted certain goods covered by the North American trade agreement, Canada did not withdraw its retaliatory measures. Instead, the Canadian government postponed a second round of tariffs that would affect U.S. products valued at C$125 billion.

Carney Defends Canadian Workers and Businesses

“Trump’s latest tariffs are a direct attack on Canadian workers, families, and businesses,” Carney stated. He added that his government would ensure a response with maximum impact on the U.S. and minimal impact on Canada, protecting affected workers.

Carney Takes Leadership of the Liberal Party

Mark Carney will officially become prime minister by the end of the week. On Sunday, he secured 86% support in his election as the new leader of the Liberal Party, solidifying his position in the Canadian government.