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Jason Tenner, President and Executive Director of Strategas Securities, analyzes the comments of President -elect Donald Trump on Canada and the Salt tax limit in ‘The Bottom Line’.
OTTAWA- On his first day in office as president number 47, Donald Trump put Canadian leaders in panic mode that night while signing executive orders in the Oval Office of the White House in the presence of journalists.
Answering the questions of the journalists, Trump reiterated his plan to impose a 25% tariff on both Mexico and Canada “because they are allowing a large number of people … and Fentanilo enter”, and said: “I think what We will do. ” February 1. “
Trump signed the executive order called Commercial Policy United States first, which includes a provision to “evaluate illegal migration and fentanyl flows” of Canada, Mexico and China “and recommend commercial and national security measures appropriate to resolve that emergency” before of April 1.
Whether tariffs arrive next week or in spring, Canadian leaders are ready to retaliate.
Canada prepares Trump’s response to tariffs: ‘In a commercial war, there are no winners’
President Donald Trump signs a series of executive orders in the White House in Washington, DC, Monday. (Sossford/The Washington Post via getty images/getty images)
“Two things will happen,” said the outgoing liberal Prime Minister Justin Trudeau He told reporters in Parliament in Ottawa on Thursday about Trump’s tariff threat.
“First, Canada will have a strong and robust response,” he said. “And two, prices for US consumers in almost everything will rise, and we don’t believe he wants that.”
Trudeau, who will leave the position on March 9 when his successor is appointed as leader of the Liberal Party and Prime Minister, also referred to Trump’s border dispute with Canada.
He said that less than 1% of illegal drugs and immigrants enter the United States from Canada, and noted that his government invested around 904 million dollars to strengthen border security and Canada’s immigration system.
Canadian government officials have drafted a plan to impose counter -contribute worth about 26 billion dollars to the United States if the Trump administration continues with its tariff measures.
Canada’s response will be “dollar per dollar, tariff per tariff,” Doug Ford, prime minister of the most populous province in Canada, ontarium, said in an interview.
President Donald Trump, left, and Canadian Prime Minister Justin Trudeau participate in a bilateral meeting at the G-7 summit in Biarritz, France, on August 25, 2019. (Photo AP/Andrew Harnik)
If Trump had imposed the tariffs against Canada on his return to the White House on January 20, the Canadian government would have been ready to add tariffs to several US products, such as the orange juice of the president’s state of residence, Florida, and the Kentucky Bourbon. , home of the Republican senators Mitch McConnell and Rand Paul.
In Ontario, Ford ordered the Alcoholic Beverage Control Board of the province to clean the American alcohol shelves in case the tariffs arrived.
At a press conference on Friday, the prime minister said he would convene elections next week they would send to the inhabitants of Ontario to the polls on February 27. Ford seeks “a strong mandate” to “fight against the tariffs of Donald Trump” and their “attack” against the families, companies and communities of the province.
The vehicles cross the Blue Water bridge over the St. Claire River from Sarnia, Ontario, to Port Huron, Michigan, on March 18, 2020. (Jeff Kowalsky/AFP via getty images/getty images)
Ford has two planned trips to Washington, DC, next month.
On Wednesday, he and his colleagues provincial and territorial prime ministers held a virtual meeting with Trudeau in which an informal campaign “canadiense” was discussed to promote local products instead of manufactured in the United States.
At a press conference the previous day, David Eby, prime minister of the British Columbia province, in western Canada, went further when responding to the arrival of “catastrophic” tariffs from the south of the border.
“We will not spend money in a country that wants to cause economic damage to Canadians,” he said.
However, in Trump’s opinion, it is the other way around.
In a virtual speech in the World Economic Forum in Davos, Switzerland, Thursday, Trump said that the United States has a commercial deficit of between 200,000 and 250,000 million dollars with Canada. “We don’t need your gas,” he said about the country.
According to a TD economy report Published this month, the United States is on its way to registering a commercial deficit with Canada of 45 billion dollars, all of which involved Canadian energy exports to the United States.
An Air Canada plane flies in front of the horizon of the center of Toronto and the CN tower when it lands at the Pearson International Airport on December 10, 2023. (Gary Hershororn/Getty images/getty images)
“If the energy of the table is removed, the United States has a surplus in regards to trade,” said Ford, who spent 20 years working in the United States through a family business and has a family home in Florida.
In the American podcast “Standpoint”, former Canadian conservative prime minister Stephen Harper said that “it is actually Canada that subsidizes the United States in this regard” and “perhaps the Canadians,” he suggested, “they should consider selling their oil and gas to other people. “
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Elizabeth May, leader of the Canadian Green Party born in Hartford, Connecticut, who joked at the beginning of this month saying that Canada could welcome the states of Washington, Oregon and California in response to Trump’s reflections on the annexation of Canada as State number 51 believes that the president has inadvertently promoted the Canadian unit. .
“Canada is now stronger than I have ever seen,” he said in an interview.
“All Canadians are worried about protecting Canada against Trump.”
