#TARIFF #Tariffs #TariffTensions
Despite rumors flying around, Canada is not backing off its tough trade stance against the U.S.! 💪 Finance Minister François-Philippe Champagne confirmed that 25% tariffs still apply to over C$42 billion (US$30.1 billion) worth of American goods – and that's excluding cars 🚫🚗. Only a few select items, like health-related products, got temporary relief. Everything else? Still getting hit hard with duties 💸🔥.
This announcement directly claps back at a report by Oxford Economics that claimed Canada had nearly zero extra duties left on U.S. imports. That misreport had critics accusing Prime Minister Mark Carney of being sneaky about his tariff strategy, especially after he promised during the election to make America “feel the pain” 🇺🇸💢. Carney’s Liberals did win, and now Canada is showing it's serious about sticking to its word.
This tariff war started when Trump slapped tariffs on Canadian goods, even with a trade deal in place. Canada retaliated fast – hitting American metals, machines, and consumer goods with that sharp 25% tax ⚙️📉. Though some short-term exemptions were made for essential sectors and manufacturing, the core pressure on U.S. exports remains strong. Ottawa’s message? “We’re not backing down.” 🚫🛑