- Canada is on guard Tuesday, bracing for the possibility that 50 percent U.S. tariffs will hit its exports to the United States without a trade truce before midnight.
- If no 11th-hour deal is struck between the U.S. and Canada, Trump has threatened to impose 50 percent tariffs on a plethora of Canadian imports in response to 'discriminatory' trade measures.
- Carney, for his part, said Thursday that Canada is ready to respond to Trump’s 50 percent tariff threat.
- 'We’re ready because we have been focusing on what we can control,' Carney told reporters.
Canada is on high alert as it prepares for the possibility of 50 percent tariffs on its exports to the U.S. if a trade truce is not reached by midnight. President Trump has threatened these tariffs in response to what he calls 'discriminatory' trade measures.2
The tariffs, which fall under Section 338 of the Tariff Act of 1930, could impact a wide range of Canadian products, including wine, hockey sticks, and cement, accounting for approximately 5 percent of Canadian exports to the U.S.
Canadian Prime Minister Mark Carney described the ongoing negotiations as 'very intense and delicate,' emphasizing the urgency of the situation.3
'We’re ready because we have been focusing on what we can control,' Carney stated, highlighting Canada's preparedness to respond to the looming threat. As the deadline approaches, both nations are under pressure to reach an agreement to avoid significant economic repercussions.4
“As the deadline approaches, Canada is on high alert for the imposition of 50 percent tariffs on its exports. Carney emphasized Canada's readiness to respond, stating, 'We’re ready because we have been focusing on what we can control,' highlighting the nation's proactive stance in the negotiations.”
