Canada To Match US' 25 Percent Auto Tariff, Says PM Mark Carney

A day after US President Donald Trump's Liberation Day tariff rollouts, Canadian Prime Minister Mark Carney said Thursday that Canada will match U.S. President Donald Trump바카라�s 25 percent auto tariffs with a tariff on vehicles imported from the United States.

On March 27, US President Donald Trump announced sweeping plans to impose a permanent 25 percent tariff on all cars imported into the United States. The tariffs will take effect on April 2.

Addressing the reporters at the White House, the president said, "What we're going to be doing is a 25 per cent tariff on all cars that are not made in the United States. This will be permanent" while adding, "We start off with a 2.5 per cent base, which is what we're at, and go to 25 per cent."

What All Did The Canadian PM Say?

"We take these measures reluctantly. And we take them in ways that is intended and will cause maximum impact in the United States and minimum impact in Canada,바카라� Carney, a former two-time central banker in Canada and the U.K said while adding, "Trump바카라�s actions will reverberate in Canada and across the world. 바카라�They are all unjustified and unwarranted and in our judgement misguided."

Commenting on the neighboring nation's relentless tariff move, Carney said, 바카라�Given the prospective damage to their own people the American administration should eventually change course,바카라� Carney said. 바카라�Although their policy will hurt American families, until that pain becomes impossible to ignore, I do not believe they will change direction, so the road to that point may indeed be long. And will be hard on Canadians just as it will be on other partners of the United States.바카라�

However, the Canadian PM also asserted said that Canada won't put tariffs on auto parts as Trump has done, because he said Canadians know the benefits of the integrated auto sector.

Autos are Canada바카라�s second-largest export and the sector employs 125,000 Canadians directly and almost another 500,000 in related industries. Carney announced last week a CA$2 billion ($1.4 billion) 바카라�strategic response fund바카라� that will protect Canadian auto jobs affected by Trump바카라�s tariffs.

Canada바카라�s initial $30 billion Canadian (US$21 billion) worth of retaliatory tariffs remain in place, having been applied on items like American orange juice, peanut butter, coffee, appliances, footwear, cosmetics, motorcycles and certain pulp and paper products.

Trump's Tariff Spree

Right after assuming the office for his second tenure as the US president, Trump said that he could put 25 percent trade tariffs on Canada and Mexico starting on February. For products from China, Trump announced a levy of 60 percent levy.

In his inaugural address, Trump pledged that tariffs would be imposed and said foreign countries would be paying the trade penalties, even though those taxes are currently paid by domestic importers and often passed along to consumers.

However, a day after pausing planned tariffs for at least a month for Mexico, US President Donald Trump on February 4 agreed to do the same with Canada after a meeting with Prime Minister Justin Trudeau. However, Trump's tariffs against China are still slated to go into effect on Tuesday.

On February 3, Trump paused the tariffs it imposed on Mexico. In a tweet, Claudia Sheinbaum Pardo, President of Mexico in her conversation with USA President Donald Trump said that the tariffs have been paused for a month

Later, he threatened the European Union with a 200 percent retaliatory tariff on European wine, champagne, and spirits if the European Union went forward with a planned tariff on American whiskey. The European tariff was expected to go into effect on April 1.

Trump has also threatened Canada with new tariffs targeting Canadian lumber and dairy products. Citing Canada's roughly 250% tariff on US dairy exports to the country, President Trump said in an Oval Office address, "Canada has been ripping us off for years on lumber and on dairy products," CNN reported.

Moreover, he doubled his planned tariffs on steel and aluminum products imported from Canada to 50 percent. The move came in response to Ontario's decision to impose a 25 percent tariff on its electricity exports to the United States.

More recently, Trump announced a 25 percent tariff on imports from countries purchasing oil or gas from Venezuela. Taking it to his social media platform Truth Social, Trump announced that Venezuela has been 바카라�very hostile바카라� to the US and countries purchasing oil from it will be forced to pay the tariff on all their trade to the US starting April 2.