With the Liberal party set to announce its new leader within days, Prime Minister Justin Trudeau says his last day in office will be determined by himself and his replacement. Responding to questions about U.S. President Donald Trump's tariffs at a press conference today, Trudeau says a conversation will take place to decide how long of a transition the government needs.
Prime Minister Justin Trudeau says the U.S. has launched a "dumb" continental trade war and Canada is fighting back. He said Canada is immediately introducing 25 per cent retaliatory tariffs on $30 billion worth of American products, and will expand them to cover another $125 billion in U.S. goods in 21 days.
Prime Minister Justin Trudeau has said Canada's response will include retaliatory tariffs on $155 billion worth of American goods. That will include tariffs on $30 billion worth of goods immediately and tariffs on the remaining $125 billion worth of American products 21 days later.
Canada's building industry says a trade war with the United States will slow down the pace of home construction. Canadian Home Builders' Association CEO Kevin Lee says the U.S. tariffs levied against Canada today will have a "muted" impact on the industry on their own.
North American stock markets plunged for a second day as the U.S. imposed broad tariffs on imports from Canada and Mexico, triggering a continental trade war.
The S&P/TSX composite index was down 547.26 points at 24,454.31, after U.S. President Donald Trump's executive order implementing the tariffs took effect at just after midnight.
One day before delivering her first budget, British Columbia's finance minister said she knows that everyone is wondering how it can be done in the face of unprecedented tariffs from the United States. It is not time to make "deep cuts," Brenda Bailey told reporters on Monday, but a time to plan for uncertainty and ensure programs and services are protected.
