The Council, which comprises leaders in business, innovation and policy, will provide advice to the prime minister and Canadian cabinet on issues related to Canada-US relations, including the threat of tariffs.
No one wants to see US tariffs imposed on Canadian goods, but “Canada will be ready with a national response if we need one,” PM Justin Trudeau recently said on his social media accounts as he convened the first meeting of the new Council on Canada-US Relations.
Meanwhile, Canadian foreign minister Melanie Joly has said that Canada is prepared to retaliate with ‘Trump tax’ on the US if needed.
Meanwhile, Canadian foreign minister Melanie Joly told a press conference in Washington, D.C., that the looming threat of a trade war could become the most significant in decades if US President-elect Donald Trump follows through with his plans to impose 25 per cent tariffs on Canadian imports.
Describing the potential conflict as a ‘trade war’ initiated by the United States, Joly cautioned that Canada is prepared to retaliate with ‘Trump tax’ on the United States if needed.
“We are ready to put maximum pressure,” she said, adding that it would be the “biggest trade war between Canada and the US in decades”.
Trudeau said confirmed that his country is prepared for a ‘strong and unequivocal’ response. “Nothing is off the table,” he said, adding that retaliatory measures would be designed to ensure fairness across Canada.
The Canadian government is also reportedly mulling over halting energy exports to the United States, a debatable plan.
Experts feel the trade conflict could reduce Canadian gross domestic product by over 5 per cent, and inflation and unemployment rates could rise significantly.
Fibre2Fashion News Desk (DS)
