The Daily Populous Sunday February 2nd, 2025 night edition
Authored by financialpost.com and submitted by real_ikonn

Canada is set to introduce escalating retaliatory counter-tariffs to try to turn Americans against United States President Donald Trump ’s 25 per cent levies on Canadian goods, a threat that’s causing the country to rethink its dependence on its southern neighbour.

“You will find when we do respond, at least initially, that we will focus on tariffing American goods that actually are sold in significant quantities in Canada, and especially those for which there are readily available alternatives for Canadians,” Natural Resources Minister Jonathan Wilkinson said in an interview on Friday, hours after Trump reiterated his plan to bring in tariffs on Canada, Mexico and China.

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Canadian officials were told by U.S. officials on Saturday that the tariffs would be implemented on their goods on Tuesday, according to people familiar with the situation.

The comments imply that Canada’s first measures in a trade war would aim to insulate consumers while trying to dent U.S. exporters’ income enough to create political pressure for U.S. representatives and, ultimately, Trump.

Former Finance Minister Chrystia Freeland, a candidate to succeed Justin Trudeau as prime minister, suggested hitting Trump ally Elon Musk directly by applying a 100 per cent tariff on Tesla Inc. electric vehicles.

Canada wants to avoid tariffs, but if Trump isn’t deterred, the levies will expand “stepwise,” and ministers are “not taking anything off the table in terms of options for the future,” Wilkinson said from his office in North Vancouver.

“That would include the potential for export tariffs on things like energy and critical minerals,” he said. That leaves open the possibility of levies to drive up the cost of oil and gas for U.S. consumers and businesses, or iron ore used in American steel-making.

Wilkinson said the government will work with regional premiers — though Alberta’s conservative leader has opposed taxing exports of its crude, and it would be a politically difficult thing for the Canadian government to do. Energy is by far Canada’s largest export to the U.S.

An early glimpse of the effect of Canada’s strategy could be seen Friday from Maine Senator Susan Collins. The Republican posted on X that tariffs would “impose a significant burden” on her state, noting that 95 per cent of the heating oil that’s widely used in Maine is refined in Canada, and the country also provides all the jet fuel and diesel for the Bangor airbase in the state.

Morlu on February 1st, 2025 at 21:14 UTC »

I want Canada to just ignore all US patents on medication. Mass produce cheap generic versions of every single medication and sell them.

Kind-City-2173 on February 1st, 2025 at 20:47 UTC »

Canada would be smart to team up with Mexico and the EU so they have more leverage against Trump

ToranjaNuclear on February 1st, 2025 at 20:42 UTC »

> Freeland suggested hitting Elon Musk directly by applying a 100% tariff on Teslas

Please please please be true because that would be fucking funny