Canadian Prime Minister Mark Carney announced a new set of countermeasures against U.S. tariffs on Thursday, calling President Donald Trump’s protectionist stance a tragedy for global trade.
The Canadian government will impose a 25% tariff on all vehicles imported from the U.S. that do not comply with the U.S.-Mexico-Canada trade deal, applying to C$35.6 billion ($25.3 billion) worth of imports.
Carney clarified that auto parts and vehicles with content from Mexico would be exempt from the new tariffs. He also stressed that Canada’s previously announced tariffs, totaling C$59.8 billion on U.S. imports, would remain in place.
The new measures follow Trump’s sweeping tariffs, including a 10% baseline levy on all U.S. imports, which caused turmoil in global markets as investors expressed concerns over the destabilization of international trade. Carney described the end of the U.S.’s traditional role as a global economic leader as a “tragedy,” warning that the American administration should reconsider its approach, though he noted it may take time for any shift to occur.
