By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Canada Retaliates: Imposes Tariffs on $155 Billion in US Goods
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
International

Canada Retaliates: Imposes Tariffs on $155 Billion in US Goods

Genesis Obong
By Genesis Obong
Published: March 5, 2025
Share
4 Min Read
Canada Tariffs
SHARE

Canada has retaliated against the United States’ recent trade measures by imposing 25% tariffs on $155 billion worth of US imports, Prime Minister Justin Trudeau announced on Tuesday. The move marks a significant escalation in the ongoing trade dispute between the two nations, raising concerns about a potential wider trade war.

“The moment U.S. tariffs came into effect this morning, so did the Canadian response. Canada will be implementing 25% tariffs against $155 billion of American products,” Trudeau stated on X (formerly Twitter).

He added that $30 billion worth of goods would be targeted immediately, with the remaining $125 billion to follow in 21 days.

US Justifies Tariffs, Cites Security Concerns

- Advertisement -

The US administration, led by President Donald Trump, justified the tariffs as a measure to protect American jobs and manufacturing while addressing illegal migration and drug trafficking. In addition to the tariffs on Canadian and Mexican imports, the US has imposed a 10% tariff on Canadian energy. Trump’s team has characterized these tariffs as a key negotiating tool, citing the need to combat the opioid crisis, particularly the influx of fentanyl.

Canada and Mexico Denounce US Actions

However, Trudeau countered that less than 1% of fentanyl intercepted at the US border originates from Canada, calling the tariffs unjustified.

Mexican President Claudia Sheinbaum echoed Trudeau’s sentiments, describing the US tariffs as lacking “motive, reason, or justification.” She announced plans to introduce her own “tariff and non-tariff measures,” with further details to be disclosed on Sunday.

- Advertisement -

Read Also: Markets Tumble as Trump’s Tariff Offensive Against Mexico, Canada, and China Takes Hold

“Existential Threat” to Canadian Jobs

Canadian Foreign Minister Mélanie Joly described the US tariffs as an “existential threat,” warning of significant job losses. Immigration Minister Marc Miller estimated that up to one million Canadian jobs could be at risk due to the deeply interconnected trade relationship between the two nations.

Impact on Workers and Consumers

The escalating trade war between the US and its closest allies has far-reaching implications for workers and consumers on both sides of the border. Higher tariffs could lead to increased prices for goods and services, potentially impacting household budgets and economic growth. The uncertainty surrounding trade policy also makes it difficult for businesses to plan and invest, potentially leading to job losses and reduced economic activity.

China Vows to Fight “to the Bitter End”

Meanwhile, China – which now faces tariffs of 20% after Trump doubled an earlier levy – has vowed to fight any trade war to the “bitter end.” It has announced its own counter-measures – including tariffs on a range of US agricultural and food products.

Looking Ahead

The coming days and weeks will be crucial in determining whether a full-blown trade war can be averted. The US faces mounting pressure from its closest allies to reconsider its trade policies and seek a diplomatic resolution to the ongoing disputes. The stakes are high, with the potential for significant economic disruption and strained international relations.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:CanadaEconomyExportsImportsJustin TrudeautariffsTradetrade warUS
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByGenesis Obong
Follow:
Genesis Obong is a Journalist with relevant experience in Business, Finance and Economic matters in Nigeria and across the West African space.
Previous Article Ikeja Air Base Blackout Ikeja Air Base on Edge: Blackout Threatens Catastrophic Explosion
Next Article BREAKING: Senator Natasha Akpoti-Uduaghan Files Sexual Harassment Petition Against Senate President Akpabio

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
Ange Postecoglou
Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory
Sport
Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President
News
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users
Tech
- Advertisement -
Ad imageAd image

You May Also Like

News

President Tinubu and Top Officials Attend Eid-el-Kabir Prayers in Lagos, Emphasize Peace and Progress

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
International

Elon Musk’s Net Worth Plummets $34 Billion Amid Explosive Feud with Donald Trump

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
PoliticsTop stories

BREAKING: Akwa Ibom Governor Pastor Umo Eno Defects from PDP to APC in Strategic Political Shift

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?