Ontario braces for impact as Trump announces 25% tariffs on Canadian-made automobiles
CBC
Ontario is bracing for impact after U.S. President Donald Trump announced Wednesday a 25 per cent tariff on Canadian-made automobiles as of midnight Wednesday.
Premier Doug Ford has yet to provide an official response to the tariffs, but warned earlier in appearances on U.S. news shows of negative impacts on both sides of the border.
"He calls it Liberation Day. I call it Termination Day, because people are going to be losing their jobs across the U.S.," Ford said on CNBC. "You can't just all of a sudden put tariffs on every part and every widget that comes across the border.
"[Trump] believes he is supporting Americans. He said he was going to create jobs, create wealth, reduce inflation — it's worked the total opposite."
Speaking to reporters at Queen's Park just after noon, Ford said he was on the phone with federal Liberal Leader Mark Carney this morning, speaking about the situation.
"We'll respond appropriately — dollar for dollar, tariff for tariff," Ford said.
In his afternoon speech, Trump referred to Canada's restrictions on dairy imports. Canada's supply management system relies on the control of imports and enables the dairy, poultry and egg sectors to limit the supply of their products to what Canadians are expected to consume.
Under both Canada-U.S.-Mexico Agreement (CUSMA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with Pacific Rim dairy exporters like New Zealand, Canadian dairy processors effectively control what enters their market.
"We don't like it and it's not fair," Trump said of Canada's trade protections. "At what point do we say, 'You've got to work for yourselves?'"
Trump at one point read from a large chart that shows which countries will be targeted in his reciprocal tariff blitz.
The chart included China, the EU, Vietnam, Taiwan, Japan, India, South Korea, Thailand, Switzerland, Indonesia, Malaysia and Cambodia, the United Kingdom, South Africa, Brazil and Bangladesh.
Canada was not on the chart.
Trump also announced a minimum base line tariff of 10 per cent on other countries.
The White House has insisted that the tariffs will achieve several simultaneous goals: raise revenues, pay for tax cuts and force companies to build in the U.S. The stock market doesn't appear to be convinced however — it has lost all its gains since the American election.
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