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CANADA: BBG-Canada Could Aim To Go 'Dollar For Dollar' w/US On Tariffs

CANADA
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Bloomberg reports that Canada is "drawing up plans for extensive tariffs against US products if Donald Trump follows through on his threat to put 25% levies on Canadian goods, according to people familiar with the matter." An earlier report from AP suggested that certain US goods including orange juice, lavatories, and some steel products could face retaliatory tariffs in the event of US action. However, the Bloomberg article claims that outgoing PM Justin Trudeau's gov't "is also preparing to go much further if necessary, said the officials, speaking on condition they not be identified. One list being circulated internally includes nearly every product the US exports to Canada, said one government official, with the general aim of going “dollar for dollar” on tariffs."

  • The issue of US tariffs on Canadian products has been elevated to the status of a political furore in recent days. The US president-elect has railed against what he perceives as weak control on the border allowing transnational criminal organisations and illegal immigrants to get into the US, as well as delivering inflammatory comments about making Canada the US' '51st state'.
  • Speaking to CNN on 9 Jan, Trudeau said “President Trump, who is a very skilful negotiator, is getting people to be somewhat distracted by that, by that conversation, to take away from the conversation around 25% tariffs on oil and gas and electricity and steel and aluminium and lumber and concrete,” adding that Canada becoming part of the US is “not going to happen.”
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Bloomberg reports that Canada is "drawing up plans for extensive tariffs against US products if Donald Trump follows through on his threat to put 25% levies on Canadian goods, according to people familiar with the matter." An earlier report from AP suggested that certain US goods including orange juice, lavatories, and some steel products could face retaliatory tariffs in the event of US action. However, the Bloomberg article claims that outgoing PM Justin Trudeau's gov't "is also preparing to go much further if necessary, said the officials, speaking on condition they not be identified. One list being circulated internally includes nearly every product the US exports to Canada, said one government official, with the general aim of going “dollar for dollar” on tariffs."

  • The issue of US tariffs on Canadian products has been elevated to the status of a political furore in recent days. The US president-elect has railed against what he perceives as weak control on the border allowing transnational criminal organisations and illegal immigrants to get into the US, as well as delivering inflammatory comments about making Canada the US' '51st state'.
  • Speaking to CNN on 9 Jan, Trudeau said “President Trump, who is a very skilful negotiator, is getting people to be somewhat distracted by that, by that conversation, to take away from the conversation around 25% tariffs on oil and gas and electricity and steel and aluminium and lumber and concrete,” adding that Canada becoming part of the US is “not going to happen.”