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Published 04:51 IST, January 28th 2025

Canada’s PM Hopeful Prepares To Fight Back Against Trump's Tariffs With ‘Retaliation List’

Canada’s Liberal leadership candidate, Chrystia Freeland called for the release of a "retaliation list" of goods to target if Donald Trump imposes 25% tariffs.

Reported by: Digital Desk
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Canada’s PM Hopeful Prepares To Fight Back Against Trump's Tariffs With ‘Retaliation List’
Canada’s PM Hopeful Prepares To Fight Back Against Trump's Tariffs With ‘Retaliation List’ | Image: Shutterstock/ Representational

Vancouver: Canada’s former Finance Minister and current Liberal leadership candidate, Chrystia Freeland has called for the release of a "retaliation list" of goods to target if US President Donald Trump imposes 25 percent tariffs on Canadian goods. The list, valued at 200 billion Canadian dollars (USD 139 billion), aims to demonstrate the harm tariffs would cause US exporters.

In her statement, Freeland stated, "Being smart means retaliating where it hurts."

"Our counterpunch must be dollar-for-dollar and it must be precisely and painfully targeted: Florida orange growers, Wisconsin dairy farmers, Michigan dishwasher manufacturers, and much more," the Liberal leadership candidate stated.

Freeland stressed the need for Canada to make clear the specific costs accompanying any US tariff measures. Trump has threatened to use economic coercion to pressure Canada into becoming the 51st US state, mistakenly viewing the US trade deficit with Canada as a subsidy.

Canada is the top export destination for 36 US states, with nearly 3.6 billion Canadian dollars (USD 2.7 billion) worth of goods and services crossing the border daily.

Senior associate dean at the University of British Columbia Sauder School of Business, John Ries cautioned against publicly releasing the retaliation list, citing the risk of antagonising Trump and making it harder for him to back down on his threats.

"He always wants to win," Ries said. "He doesn't want to show any weakness."

Freeland proposed additional measures, including prohibiting American companies from bidding on Canadian federal procurement, excluding defence, and convening an international summit to coordinate a joint response to challenges facing Canada's sovereignty and economy.

Some lawmakers suggested Canada could stop energy shipments to the US, but Daniele Smith, Alberta's premier, opposed this move. Mark Carney, former central banker and Liberal leadership candidate, suggested cutting off Quebec's hydro exports to the US as a potential option.

Freeland's resignation as finance minister last month prompted Trudeau's resignation as prime minister and party leader. Trudeau will remain prime minister until a new Liberal leader is chosen on March 9.
 

Updated 04:51 IST, January 28th 2025