LIVE: Mark Carney Says Canada Will Fight Back as Trump Takes Trade War To The World | Ottawa | CNBC TV18
Canada will impose a 25% tariff on all vehicles imported from the United States that are not compliant with the U.S.-Mexico-Canada trade deal, Prime Minister Mark Carney told a press conference on Thursday.
Carney also said the new tariffs would not apply to auto parts and would not affect vehicle content from Mexico.
Canada LIVE: Mark Carney Responds To Trump Tariffs, Says Canada Will ‘Fight’ | Global Stocks | CNBC TV18
OTTAWA - Canada’s Prime Minister Mark Carney speaks with reporters after Trump’s tariff announcement
Prime Minister Mark Carney, speaking from Parliament Hill on Wednesday, says Canada will act with ‘purpose and with force’ to fight new U.S. tariffs. President Donald Trump slapped new 25 per cent tariffs on foreign-made cars, but Canada was spared the 10 per cent baseline tariffs applied to many other countries.
The Trump administration's aggressive global tariff regime against imported goods from some of its closest allies has drawn strong reactions across the board.
Long-standing U.S. allies across most of the world's largest economies reacted with a mixture of anger and despair as they vowed retaliatory tariffs and hinted at some of the measures they plan to use to soften the blow to their own economies.
Countries seeking to sell goods to the United States will now face taxes as high as 54% based on how the White House is calculating duties on U.S. exports, as well as "nonmonetary" trade barriers in response to countries' doing things such as manipulating their currencies or serving as "pollution havens."
Global markets reacted sharply and swiftly, with investors pulling money out of U.S. shares and the stocks of other companies that rely on global supply chains.
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