Outgoing Canadian Prime Minister Justin Trudeau warned that American consumers will face higher prices if President Donald Trump follows through with his threat to impose sweeping tariffs on Canadian products. Trump reiterated his plan to tariff Canada and Mexico at 25% rates starting February 1st. Trudeau stated that Canada will retaliate with its own tariffs, resulting in increased costs for American consumers on various goods. He emphasized the importance of US-Canada cooperation in energy, critical minerals, and goods for economic growth, urging Trump to reconsider the tariffs.
Outgoing Canadian Prime Minister Justin Trudeau says prices for Americans will go up if President Donald Trump follows through with his vow to apply sweeping tariffs on Canadian productsPresident Donald Trump speaks to reporters as he signs executive orders in the Oval Office of the White House, Thursday, Jan. 23, 2025, in Washington.
The premier of oil-rich Alberta, Danielle Smith, said Americans in some states could pay more than a dollar per gallon more for gas if Trump puts the tariff on Canadian oil. "The U.S. should be working even more with Canada on our energy, on our critical minerals, on the goods they need to deliver the economic growth that Donald Trump has promised,” Trudeau said.
Nearly $3.6 billion Canadian dollars worth of goods and services cross the border each day. Canada is the top export destination for 36 U.S. states.
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