The Trump administration imposed so-called “reciprocal” tariffs on numerous countries, but Canada was not targeted. However, previously-announced auto tariffs went into effect at midnight. And levies on steel, aluminum and goods that aren’t compliant with the existing North American trade deal remain in place.Follow along Thursday for live updates and analysis from the Star’s newsroom.
Why China sees an opening in Donald Trump’s global tariff war
The world is reacting with disbelief and no shortage of panic to U.S. President Donald Trump’s tariff threats.
“A catastrophe of an unfathomable magnitude,” said France’s cognac makers, who will contend with new 20 per cent duties.
Stock markets slid on the threat of a crystallizing global trade war and economic slowdown.
Read the full story from the Star’s Allan Woods
Donald Trump hits Canada with 25 per cent auto tariffs and threats remain
Prime Minister Mark Carney vowed to fight back against Donald Trump’s latest raft of trade tariffs, declaring Wednesday night that the U.S. president’s “Liberation Day” measures would drastically alter the global economy even if they spared Canada from the heaviest blows.
Though Trump’s new “reciprocal” tariffs targeted mostly countries in Europe, Asia and elsewhere around the world, Canadian auto imports into the United States were set to be hit with punishing 25-per-cent tariffs set to kick in after midnight Thursday morning.
The White House also decided to keep existing tariffs on Canadian steel and aluminum, and maintain tariffs — justified under Trump’s alleged border emergency — against Canadian goods that aren’t compliant with the existing North American trade deal that sets rules about limiting foreign content. Under that order, non-compliant goods were hit with 25-per-cent import taxes and non-compliant energy and potash with 10-per-cent tariffs.
But Carney suggested that the status quo is no relief, especially with American measures rollicking the international trading system. He said the Americans have also “signalled” there will be new tariffs in “so-called strategic sectors” like pharmaceuticals, lumber and semi-conductors.
“The series of measures will directly affect millions of Canadians,” Carney said.
“We’re going to fight these tariffs with countermeasures. We are going to protect our workers, and we are going to build the strongest economy in the G7.”
Read the full story from Tonda MacCharles, Josh Rubin and Alex Ballingall
Senate rebukes Trump’s tariffs as some Republicans vote to halt taxes on Canadian imports
The Senate passed a resolution Wednesday night that would thwart President Donald Trump’s ability to impose tariffs on Canada, delivering him a rare rebuke just hours after the president unveiled sweeping plans to clamp down on international trade.
The Senate resolution, passed by a 51-48 vote tally, would end Trump’s emergency declaration on fentanyl that underpins tariffs on Canada. Trump earlier Wednesday announced orders — his so-called “Liberation Day” — to impose import taxes on a slew of international trading partners, though Canadian imports for now were spared from new taxes.
The Senate’s legislation ultimately has little chance of passing the Republican-controlled House and being signed by Trump, but it showed the limits of Republican support for Trump’s vision of remaking the U.S. economy by restricting free trade. Many economists are warning that the plan could cause an economic contraction, and GOP senators are already watching with unease as Trump upends the United States’ relationship with the rest of the world.
Trump earlier Wednesday singled out the four Republicans — Sens. Lisa Murkowski of Alaska, Susan Collins of Maine, Mitch McConnell of Kentucky and Rand Paul of Kentucky — who voted in favor of the resolution.
Read the full story from the Associated Press
Hours before U.S. President Donald Trump unveiled a sweeping new tariff plan against global allies, Conservative Leader Pierre Poilievre outlined his most detailed and combative plan to date in response to the American economic threat that has also rattled his campaign hopes.
In a speech Wednesday in Toronto, Poilievre said Canada should immediately retaliate with “targeted” counter-tariffs to whatever level of tariff Trump levies.
That is a slightly more nuanced proposal than broad “dollar-for-dollar” counter-tariffs that the Conservative leader previously embraced — which the Liberals have more recently also downplayed as a viable response for Canada with an economy a tenth the size of the Americans’.
Read the full story from Tonda MacCharles
