Canada hitting the U.S. with dollar-for-dollar retaliation for Trump’s ‘unfair’ steel and aluminum tariffs

Playing null of undefined

LIVE coverage from CTV News Channel amid intensifying Canada-U.S. trade war

'I'm ready to sit down with President Trump at the appropriate time': Carney

‘There are no winners in a trade war’: Joly

‘Tariffs are bringing the wild west onto factory floors’: Champagne

‘Challenging times’: Canada responds with $29.8B in retaliatory tariffs

Why Canada's 'dollar-for-dollar' response may not be enough in long-term dispute

Canada is levelling reciprocal dollar-for-dollar tariffs on U.S. steel and aluminum imports, in response to U.S. President Donald Trump’s 25 per cent tariffs on all steel and aluminum imports that came into effect today.

The federal government’s countermeasures will come into effect at 12:01 a.m. on March 13. The 25 per cent tariffs will hit steel products worth $12.6 billion and aluminum products worth $3 billion.

In addition, Canada is hitting another $14.2 billion worth of imported U.S. goods with fresh tariffs, totalling $29.8 billion in retaliation.

“The U.S. administration is once again inserting disruption and disorder into an incredibly successful trading partnership and raising the costs of everyday goods for Canadians and American households alike,” said Finance Minister Dominic LeBlanc.

LeBlanc said the federal government learned on Tuesday that the latest U.S. tariffs would also be imposed on steel and aluminum content in certain derivative products, and officials on this side of the border are assessing this and readying a further tariff response if warranted.

“We will not stand idly by while our iconic steel and aluminum industries are being unfairly targeted,” the minister continued, announcing the package alongside Foreign Affairs Minister Melanie Joly and Industry Minister Francois-Philippe Champagne.

What new goods are being targeted?

These measures come on top of the initial $30 billion worth of U.S. imports that Canada slapped tariffs on earlier this month, in response to Trump’s U.S. International Emergency Economic Powers Act tariffs put in place March 4, based on what Joly called “exaggerated claims about our border.”

• Here are the U.S. products affected by the first round of Canadian tariffs

According to the federal government, the list of additional products affected by counter-tariffs includes tools, computers and servers, display monitors, water heaters, sport equipment, and cast-iron products.

The full list of fresh items slated to face tariffs as of Thursday, has yet to be published.

“Make no mistake… this is going to be a day-to-day fight,” Joly said. “This is now the second round of unjustified tariffs level against Canada and Canadian goods.”

Joly also called on American citizens to “help us help you,” imploring them to talk to their elected representatives at all levels about the impact Trump’s tariffs are having on jobs and the cost of living south of the border as other countries are increasingly pushing back.

PM-designate meets steelworkers

The deepening trade war comes amid Ottawa’s transition of power from Prime Minister Justin Trudeau to prime minister-designate Mark Carney.

Yet to declare when the official hand-over of power is happening, Carney visited a steel plant in Hamilton, Ont., today to speak with workers, following a breakfast meeting with Ontario Premier Doug Ford in Toronto.

Speaking at the same time as the ministers were taking reporters’ questions in Ottawa, Carney – donning safety gear – called it a “difficult day for Canada,” and pledged that “all the proceeds from our tariffs go back to support workers in the affected industries.”

• Ottawa announces $6.5 billion aid package for businesses hit by trade war

Asked if Carney played a role in deciding the government’s retaliation, given his advocacy during the Liberal leadership race for a dollar-for-dollar response, LeBlanc was unspecific.

“Obviously, we took note of what the prime minister-designate said in the leadership campaign, but it’s also been the position of the Government of Canada to have a strong response to these unjustified measures,” he said. “So, this shouldn’t surprise anyone.”

LeBlanc and Champagne will be travelling to D.C. alongside Ford, for meetings with U.S. administration officials including U.S. Commerce Secretary Howard Lutnick on Thursday.

Carney said that he respects Trump’s concerns about American workers and fentanyl, and he is “ready to sit down with President Trump at the appropriate time.”

But, in light of Trump’s continued comments about making Canada the 51st U.S. state, Carney said that meeting would need to happen “under a position where there’s respect for Canadian sovereignty, and we’re working for a common approach.”

This is a developing story, check back for updates…