Canadian Prime Minister Justin Trudeau warned that American consumers will face higher prices on various goods if President Donald Trump carries out his threat to impose 25% tariffs on Canadian products. Trump reiterated his plan to implement tariffs on Canada and Mexico, starting as early as February 1st. Trudeau emphasized that Canada will respond with retaliatory tariffs, impacting American consumers. The potential tariff on Canadian oil could lead to increased gas prices in some US states, and the move risks disrupting markets for autos, lumber, and oil. Trudeau urged the US to collaborate with Canada on energy, critical minerals, and goods, highlighting the strong economic ties between the two nations.
TORONTO—Outgoing Canadian Prime Minister Justin Trudeau said Thursday American consumers will pay more whenever President Donald Trump decides to apply sweeping tariffs on Canadian products.
The premier of oil-rich Alberta, Danielle Smith, said Americans in some states could pay more than a dollar per gallon more for gas if Trump puts the tariff on Canadian oil. “The US should be working even more with Canada on our energy, on our critical minerals, on the goods they need to deliver the economic growth that Donald Trump has promised,” Trudeau said.
“Everything is on the table,” Trudeau said. “It would be bad for Canada, but it would also be bad for American consumers.”
TARIFFS CANADA USA TRADE ECONOMICS
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