Canada 'disappointed' by Trump boosting tariffs to 35%, says Carney

Economic Strategy

🔍 Q: How is Canada responding to increased US tariffs?
A: Canada is focusing on controllable factors, including breaking down internal trade barriers, working on nation-building projects, and strengthening global trading partnerships.

💼 Q: What actions is the government taking to protect Canadian businesses?
A: The government will act to protect jobs and invest in competitiveness of Canadian companies, while diversifying export markets in response to the 35% US tariff hike.

Trade Relations

🤝 Q: What is Canada's stance on trade negotiations with the US?
A: Canada is prioritizing national interests and refusing to sign a bad deal, despite ongoing trade disputes and lack of agreement.

🌎 Q: How is Canada adapting its economic focus in light of US trade tensions?
A: The government is emphasizing domestic economic growth, creating well-paying careers at home, and diversifying global trading partnerships.

Support Measures

💰 Q: How does the government plan to use collected tariffs from the US?
A: Billions in collected US tariffs should be released to support businesses and workers affected by ongoing tariff uncertainties, according to the Canadian Federation of Independent Business.

🏭 Q: Which sectors is the government targeting for support?
A: The government is working to support steel, aluminum, auto, softwood, and lumber sectors impacted by tariffs, with potential measures to be announced in Hamilton, Ontario, a major steel industry hub.

Economic Impact

1. 🏭 Trump's tariff hike to 35% on non-compliant Canadian goods, coupled with existing 50% tariffs on steel and aluminum and 25% tariffs on vehicles, significantly impacts Canada-US trade relations.
2. 💼 The Canadian Federation of Independent Business urges the federal government to release tariff revenue collected from the US to support affected businesses and workers.

Canadian Response

1. 🍁 Prime Minister Mark Carney focuses on internal trade barrier reduction, nation-building projects, and diversifying global trade partnerships to mitigate tariff impacts.
2. 🛡️ Canada plans to protect jobs and invest in competitiveness while expressing disappointment over the tariff increase.

Political Reactions

1. 🏛️ Ontario Premier Doug Ford advocates for reciprocal 50% tariffs on US steel and aluminum, potentially affecting Canadian businesses and consumers.
2. 🗳️  The Conservative Party of Canada pushes for a comprehensive deal with zero tariffs across all sectors and calls for anti-development law repeals and tax cuts.

• 00:00 💰 Canada faces increased tariffs from Trump, with Canadian goods not complying with KUSMA free trade agreement now facing 35% tariffs.
• 01:11 😒 Canada's government is disappointed by Trump's decision to boost tariffs to 35%, according to Prime Minister Mark Carney's statement on social media.
• 01:58 🇨🇦 Canada will focus on building its own economy and diversifying trade partnerships in response to US tariffs, while protecting jobs and investing in competitiveness.
• 03:29 💰 Canada urges federal government to release collected tariff revenue to support businesses and workers affected by Trump's 35% tariff boost.
• 04:27 💼 Canada won't sign a trade deal that isn't in its best interests, despite no deal being a bad outcome, as negotiations with the US have stalled.
• 05:37 💼 Canada watches for high-level talks with US after Trump boosts tariffs, with Ontario Premier Ford urging federal government to stand firm and consider matching US steel and aluminum tariffs.
• 06:49 💼 Canada's Conservative Party leader Pierre Polyev calls for Ottawa to repeal "anti-development laws" and cut taxes amid ongoing trade tensions with the US, while Carney indicates ongoing talks between Canada and the US.
• 08:06 💬 Canada awaits answers on Trump's tariff boost.

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