The United States has followed through on threats of significant tariffs on imported goods from Canada.
The Trump administration announced a 25 per cent tariff, which takes effect Tuesday, with oil and gas taxed at 10 per cent.
Consumer groups estimate that the taxes could result in the loss of 500,000 jobs in Canada, spin the country into a recession, and cost consumers $1,900 a year. The measures will also hurt American consumers to the tune of $1,100 or $1,200 a year.
Prime Minister Justin Trudeau held a news conference late last night saying he will be targeting a total of 155-billion-dollars worth of American goods with a 25 per cent tariff of his own. Trudeau says the tariffs will threaten American jobs
Premier Andrew Furey encourages residents to think local when shopping. He is urging the public to buy products that are made in Canada or Newfoundland and Labrador, and buy products from local retailers.
Furey says “There are a lot of substitutes for the American products that we consume.”
Trudeau says this might mean doing without things such as orange juice. A full list of items Canada is targeting could be released as early as today.
The auto sector believes the duties could add thousands to the cost of a vehicle.
LIVE: Canada’s response to U.S. tariffs | EN DIRECT : Réplique aux tarifs douaniers américains https://t.co/1R7HT03O9G
— Justin Trudeau (@JustinTrudeau) February 2, 2025
Some provinces have reacted by having some alcohol products from the U-S pulled from liquor store shelves, and encouraging Crown corporations not to buy products from south of the border.
Jessica McCormick, President of the NL Federation of Labour, says they will be convening a meeting of unions on the tariffs in the next couple of days. She says workers are very concerned. One of the areas they will be looking at is the EIS program, saying that it will have to be able to pivot to ensure that workers impacted by the trade dispute have access to benefits.
