U. S. President Donald Trump has hinted at imposing 25% tariffs on Canadian imports starting February 1. He made this announcement during the signing of executive orders at the White House. Trump blamed Canada, among other countries, for allowing a large number of people and the drug fentanyl to enter the U. S. This news comes after earlier reports suggested Trump would only order studies on trade issues. An executive order mandating these studies was signed with a deadline of April 1. Trump also mentioned potentially imposing a universal tariff on all countries.

Canadian Finance Minister Dominic LeBlanc reassured the public that Canada is ready for any tariffs Trump might impose. According to sources, if the tariffs are set at 25%, Canada could retaliate with $37 billion in counter-tariffs, with an additional $110 billion possible. The response would be more modest if the tariffs are lower.

Trump's inaugural address focused on immigration concerns and the prosecution of himself and his supporters. He stated his intention to reform the trade system to protect American workers and families. Although Canadian officials were relieved not to be mentioned in the speech, they remain cautious about potential economic impacts.

Trade Minister Mary Ng and Alberta Premier Danielle Smith have both expressed optimism about the possibility of a strong energy partnership with the U. S. Smith believes Canada could form a "perfect partnership" with the U. S. to provide stable energy prices. However, Smith has been hesitant to consider countermeasures like levies on oil exports or cutting off energy supplies to the U. S.

Trump Threatens Tariffs on Canadian Goods by February

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