Canada responded with retaliatory tariffs in 2018 when then-U.S. President Donald Trump imposed tariffs on Canadian steel and aluminum products. That response may again be considered should President-elect Trump follow through on recent threats to impose 25 percent tariffs on Canadian imports.
Deputy Prime Minister Chrystia Freeland said Canada’s 2018 response was “successful,” when asked during a Nov. 26 press conference whether Ottawa would consider retaliatory tariffs again this time.
“Canada had a united, smart, targeted response. We imposed dollar-for-dollar retaliatory tariffs on the United States,” she said, referring to the 2018 tariffs. “Our response was successful.”
Some warn the impacts of retaliatory tariffs would be hard on Canada as well. It’s like “cutting off your nose to spite your face,” said economist Jack Mintz, president’s fellow at the University of Calgary’s School of Public Policy….