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.
10:44 a.m. Stellantis layoffs 900 U.S. workers
In fallout from the temporary shutdowns of its Windsor assembly plant and several Mexican plants, auto giant Stellantis announced layoffs of 900 U.S. workers at several powertrain and stamping plants in Michigan and Indiana.
“Stellantis continues to assess the effects of the recently announced U.S. tariffs on imported vehicles and will continue to engage with the U.S. tariffs on these policy changes,” the company said in a statement Thursday. The plants impacted are the Warren and Sterling stamping plants in the Detroit area and the Indiana transmission plant, and the transmission and stamping plants in Kokomo, Ind.
The Windsor assembly plants will be idled the weeks of April 7 and 14 and is slated to resume production the week of April 21.
10:06 a.m. Doug Ford says ‘we have to respond’
On his way into his office to join the online First Ministers’ Meeting on U.S. tariffs, Premier Doug Ford stopped to talk to reporters. “In my opinion we have to respond,” he said. “Let’s pray it’s only a couple of weeks.” His comments follow an announcement by automaker Stellantis to shut down its massive Windsor assembly plant for two weeks starting Monday.
-Rob Ferguson
9:54 a.m. Singh said there’s no justification to renegotiate CUSMA
NDP leader Jagmeet Singh says there is no justification to renegotiate the CUSMA, or Canada-U.S.-Mexico free trade deal, which Trump himself negotiated, and is not open for re-negotiation, but for review, next year in 2026.
Singh says Canada should stand “in solidarity” with Mexico against the Trump tariffs. “We are in a similar position where we’ve been attacked for no justification, for no reason,” he said.
-Tonda MacCharles
9:52 a.m. NDP leader calls for Victory Bonds
In Ottawa this morning, with the National War Memorial as his backdrop, NDP Leader Jagmeet Singh is calling for Victory Bonds that people could buy with guaranteed interest rates to those who invest with tax-free revenue. He’s contrasting that plan, which would bring money into the government, with the cuts he says will come from a Liberal or Conservative government. “We are in a type of war right now, in a trade war, and the threat of Donald Trump has made Canadians say ‘What can I do?’” Singh says. “This is a way for Canadians to contribute.” He compares the situation to the Second World War, when Canadians purchased victory bonds from the government to help the effort.
-Alex Ballingall
9:48 a.m. Stock markets also down in Canada
The S&P/TSX composite index sank more than 700 points at the start of trading as investors react to U.S. President Donald Trump’s tariff announcement.
9:44 a.m. U.S. stock markets tumble
U.S. stock markets from the Nasdaq composite index to the Dow Jones Industrial average tumbled after opening Thursday following President Donald Trump’s tariff blow against America’s global trading partners who vowed they would respond.
The S&P 500 was down 3.4 per cent in the first 40 minutes, the Dow down 2.5 per cent, the Nasdaq 100 down 3.6 per cent.
Trump levied a baseline tariff of 10 per cent on 185 countries and territories across the globe, against European countries, the UK, and Asia, and jacked up the import taxes based on a determination of how big the U.S. trade imbalance is with specific countries.
Canada and Mexico did not immediately get hit with the baseline 10 per cent, but 25 per cent auto tariffs and 25 per cent steel and aluminum tariffs are in effect against the U.S.’s closest neighbours and most important trading allies.
Prime Minister Mark Carney is expected to address how Canada will respond at an 11:30 news conference.
-Tonda MacCharles
9:43 a.m. Bloc Québécois leader responds to tariffs
Bloc Québécois Leader Yves-François Blanchet speaking now in Québec City. He says he thinks yesterday’s Trump announcement means the rest of the campaign can proceed in a bit more of a “normal” way, in the sense that the tariff situation and uncertainty about what Trump was going to do was largely answered yesterday. Recognizing the “enormous” threats of American tariffs, Blanchet says there are other issues on the campaign, like the environment, that should be discussed as well.
He is asking for a Québec delegation to be a formal part of Canada’s negotiation team with the Trump administration after the election, with representatives chosen by the Québec government. He says there shouldn’t be a deal without Québec.
He also wants the government to adopt a policy to mirror “Buy American,” and take efforts to diversify markets, among other demands. He says the Bloc supports dollar-for-dollar countertariffs, with exceptions for essential goods that can only be sourced from the US. He also wants the government to protect the supply management system for the dairy sector, which Trump raised yesterday as trade barrier the Americans don’t like.
-Alex Ballingall
9:38 a.m. JD Vance urges Americans to be patient as markets slide
The vice president appeared on Fox & Friends, saying it will take some time for Trump’s tariffs, spending cuts and support for U.S. industries to help everyday Americans. “We are not going to fix things overnight,” Vance said.
“Frankly, a lot of people have gotten rich from American jobs moving overseas,” Vance said. “But American workers have not gotten rich. And frankly, American companies have not gotten wealthy from the increasing growth of foreign competitors manufacturing overseas.”
“We know people are struggling. We’re fighting as quickly as we can to fix what was left to us, but it’s not going to happen immediately. But we really do believe that if we pursue the right deregulation, we pursue those energy cost reducing policies — Yes, people are going to see it in their pocketbook. They’re also going to benefit from the fact that foreign countries can’t take advantage of us anymore.”
9:32 a.m. China will “do what is necessary” to respond to tariffs
China foreign ministry spokesman Guo Jiakun condemned the U.S. trade actions today, and said “trade wars and tariff wars have no winners, and protectionism will lead nowhere.”
He did not specifically outline retaliatory moves, but said China “will do what is necessary to defend our legitimate rights and interests.”
“It is clear that more and more countries have come to stand against the U.S.’s tariff hikes and other unilateral bullying moves,” said Guo.
The spokesman was not asked to respond to Trump listing Taiwan as a country on his list for reciprocal tariffs – Taiwan got 32 per cent – although he railed against Japan, saying China has a right to conduct whatever military exercises near Taiwan it wants to.
-Tonda MacCharles
8:40 a.m. Futures market points to big drop for U.S. stocks when trading starts
The futures market pointed to a big drop for U.S. stock markets when trading begins today.
The move comes after U.S. President Donald Trump announced so-called “reciprocal tariffs” hitting just about every country around the world.
Stock markets in Canada and the U.S. open for trading at 9:30 a.m. ET.
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
Poilievre urges immediate ‘targeted’ counter-tariffs to fight Trump’s threats
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
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