Canada expected to announce retaliatory tariffs on Tuesday

Canada plans to disclose its response to President Donald Trump's new tariffs during a press conference in Ottawa. The Canadian government stated that Finance, Industry, Labour, and other officials would participate in the briefing. Canada and the United States were unable to reach a deal to avoid new 50% US tariffs on certain Canadian goods after weeks of negotiations.

The tariffs took effect on Saturday, prompting Canada to prepare retaliatory measures. President Trump announced on Sunday that he would double tariffs on Canadian autos starting next year to 50%. Canada's Prime Minister, Mark Carney, had previously rejected the "bad deal" offered and vowed to target US steel and dairy sectors, along with other industries like agricultural equipment, paper, and electronics.

Carney emphasized that the goal of trade talks with the US has always been to secure the best deal for Canadians, not a deal at any cost. The US and Canada have also been unable to agree on revisions to the US-Mexico-Canada trade agreement, which Trump has declined to renew. Canadian officials accused the US of unfair negotiating terms and even threats against French language and Quebec culture.

Despite a majority of Canadians supporting Carney's decision to walk away from trade talks, some expressed concerns about job security. Ontario Premier Doug Ford criticized Trump's tariff threat on autos and hinted at an electricity surcharge for three US states. The White House alleged discriminatory treatment by Canada against US goods, while the US Trade Representative offered to reduce tariffs on softwood lumber and autos in exchange for concessions from Canada.