‘We need to fight back’: Canada announces $29.8B in tariffs in response to Trump

Canada’s government announced $29.8 billion in retaliatory tariffs in response to the 25 per cent steel and aluminum tariffs that U.S. President Donald Trump has leveled.

Finance Minister Dominic LeBlanc, Foreign Affairs Minister Melanie Joly and Industry Minister Francois-Philippe Champagne outlined Canada’s response at a news conference on Parliament Hill on Wednesday morning.

LeBlanc confirmed that Canada’s retaliatory tariffs will go into effect as of 12:01 a.m. ET on Thursday and are in addition to 25 per cent tariffs Canada imposed on $30 billion in imports from the U.S. earlier this month.

The new levies target $12.6 billion in steel products and $3 billion in aluminum products. The counter-tariffs will also apply to other products, including computers, sports equipment and cast iron goods.

“Canadians have made it very clear that they will not back down and give in to this coercion,” Joly said at the press conference. “To our American friends, I want you to remember this: Canada is your best friend, best neighbour and best ally… Together, we have spent generations between our countries that is the envy of the world.”

Canada is the largest foreign supplier of steel and aluminum to the U.S.

The latest move in Trump’s plan to realign global trade came into force today as all countries, including Canada, were hit with 25 per cent tariffs on steel and aluminum imports into the United States.

The president’s executive order went into place at 12:01 a.m. ET on Wednesday. It removes the exceptions and exemptions from Trump’s 2018 tariffs on steel and aluminum, which eventually excluded Canada and other countries from the duties.

“We need to fight back against this nonsense,” Joly said.

EU retaliates against Trump’s trade moves

Trump claims the taxes will boost U.S. factory jobs, even as his shifting tariff threats unsettle the stock market and fuel concerns of an economic slowdown.

“There are no winners in a trade war,” Joly said. “American friends, please help us help you.”

The latest levies came into force hours after the White House confirmed Trump would not follow through on Tuesday’s threats to double tariffs on Canadian steel and aluminum after Ontario agreed to pause a surcharge on electricity exports to the U.S.

“Let’s stop with this tariff nonsense,” added Champagne. “Our people on both sides of the border expect nothing else from us.”

LeBlanc is scheduled to travel to Washington on Thursday with Ontario Premier Doug Ford and meet with Commerce Secretary Howard Lutnick.

“The conversation tomorrow will be about lowering the pressure,” LeBlanc said. “We have always said the best approach is a coherent conversation… for the moment, it’s difficult to get there because day over day you have these decisions.”

European Commission President Ursula von der Leyen said on Wednesday that as the United States is “applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros,” or about $28 billion. The commission manages trade and commercial conflicts on behalf of the 27 member countries.

With files from The Canadian Press