Canadian Prime Minister Mark Carney on Wednesday night vowed to “combat” the brand new spherical of tariffs introduced by President Donald Trump, and mentioned he would flip to different worldwide companions to get via the rocky occasions forward.
“President Trump has simply introduced a collection of measures which can be going to basically change the worldwide buying and selling system,” Carney informed reporters following Trump’s Rose Backyard announcement. We’re in a scenario the place there’s going to be an impression on the U.S. financial system, which is able to construct with time.
“In our judgment, it is going to be adverse on the U.S. financial system that may have an effect on us,” he added, noting thousands and thousands of Canadians shall be impacted.
Prime Minister Mark Carney holds a press convention following the First Ministers Assembly on the Nationwide Warfare Museum on Friday, March 21, 2025. (Sean Kilpatrick/The Canadian Press)
WHICH COUNTRIES IMPOSE THE HIGHEST TARIFFS ON THE US?
Whereas Trump didn’t subject any further tariffs in opposition to Canada following the 25% tariffs already in place on all Canadian imports, the ten% tariff on its power exports and the blanket tariff on all aluminum and metal, he did announce a 25% tariff on all overseas automobile imports.
He additionally identified that Trump mentioned there could possibly be future focused tariffs in opposition to pharmaceutical corporations, lumber and semiconductors — tariffs that may have extensive have an effect on on U.S. buying and selling companions past Canada and Mexico, however throughout Europe and Asia.
“In a disaster, it is vital to return collectively,” Carney mentioned. “It is important to behave with function and with pressure, and that is what we are going to do.”
Earlier than the tariff announcement, Canadian Conservative Chief Pierre Poilievre mentioned at an election marketing campaign occasion on Wednesday that he helps “focused, reciprocal” tariffs on American items — and if his social gathering wins the overall election on April 28 and he turns into prime minister, he want to sit down with President Donald Trump and create a brand new commerce deal, changing the United States-Mexico-Canada Settlement, which the president signed in 2020.
Pierre Poilievre, chief of Canada’s Conservative Celebration, speaks on the Meeting of First Nations Annual Basic Meeting in Montreal, Quebec, Canada, on Thursday, July 11, 2024. (Graham Hughes/Bloomberg by way of Getty Photographs)
Poilievre additionally mentioned that Canada should preserve management of its border and freshwater and defend each its automotive trade and supply-managed farm sectors.
David Adams, president and CEO of International Automakers of Canada — a nationwide commerce affiliation representing the Canadian pursuits of 16 automakers, together with BMW Canada, Inc. and Nissan Canada Inc. — mentioned in an announcement, “Tariffs are taxes that harm customers by rising prices, driving up inflation, and unfairly impacting staff on either side of the border.”
“Governments ought to look to long-term options to take away these tariffs, prioritizing the elimination of regulatory boundaries to trade competitiveness and offering automakers with flexibilities to reply in these unsure occasions.”
Reactions from European Union leaders started to emerge following Trump’s announcement that he’ll hit the EU with 20% tariffs on all imported items, with disappointment, concern and commitments to proceed negotiations with the U.S.
US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs throughout an occasion within the Rose Backyard entitled “Make America Rich Once more” on the White Home in Washington, DC, on April 2, 2025. (Getty Photographs)
CANADA STARES DOWN CONSEQUENCES OF TRUMP TARIFF WAR: JOB LOSSES, GROCERY PRICE HIKES, POSSIBLE RECESSION
Italian Prime Minister Giorgia Meloni, usually seen as a Trump ally, mentioned Trump’s tariffs have been “fallacious” and warned they might not solely hurt American and European pocketbooks, however assist Western adversaries.
“We’ll do all the pieces we are able to to work in the direction of an settlement with america, with the objective of avoiding a commerce warfare that may inevitably weaken the West in favor of different international gamers,” Meloni mentioned in an announcement on Fb.
“In any case, as at all times, we are going to act within the curiosity of Italy and its financial system, additionally partaking with different European companions,” she added.
Eire’s Deputy Prime Minister, Simon Harris, mentioned he “deeply remorse[s]” the brand new tariffs however mentioned he’s dedicated to working with Washington to finish this tariff warfare.
“I should be sincere tonight {that a} 20% blanket tariff on items from all EU nations might have a big impact on Irish funding and the broader financial system,” he mentioned, noting the results would “doubtless be felt for a while.”
Chairman of the European Parliament’s Worldwide Commerce Committee Bernd Lange referred to as for a united response from nations focused by Trump.
President Donald Trump speaks throughout an occasion to announce new tariffs within the Rose Backyard on the White Home, Wednesday, April 2, 2025, in Washington, as Commerce Secretary Howard Lutnick listens. (AP Photograph/Mark Schiefelbein)
“Whereas President Trump may name at this time ‘Liberation Day,’ from an strange citizen’s viewpoint that is ‘Inflation Day,’ he mentioned, reported Reuters. “Due to this choice, U.S. customers shall be compelled to hold the heaviest burden in a commerce warfare.”
Lange mentioned the EU will reply via “authorized, official, proportionate and decisive” measures.
Swiss President Karin Keller-Sutter mentioned her authorities would work to determine the subsequent steps.
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The U.Ok., together with the president of Mexico forward of the announcement, mentioned they might proceed to work with the U.S. and wouldn’t rush to implement reciprocal tariffs.
Equally, Australian Prime Minister Anthony Albanese mentioned that whereas Trump’s choice was “not the act of a buddy,” his nation wouldn’t impose reciprocal tariffs, reported Reuters.
He reportedly condemned the U.S. tariffs as completely unwarranted and mentioned Australia will proceed to barter to have the tariffs lifted.
