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Canada prepares to impose duties on US-made goods worth US$105 billion, Bloomberg reports

Thursday, 16 January 2025, 10:26
Canada prepares to impose duties on US-made goods worth US$105 billion, Bloomberg reports
Stock photo: getty Images

Canada has drawn up an initial list of US-made goods worth CAD 150 billion (about US$105 billion) that it will impose duties on if US President-elect Donald Trump decides to introduce tariffs on Canadian goods.

Source: Bloomberg with reference to data from an informed official 

Details: The source stressed that this list is preliminary and will come into force only if the Trump administration takes the first step. 

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It was also noted that, depending on what the US does, additional tariffs from Canada could be added later.

However, the products on this initial list were not disclosed. 

Background

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  • Trump has threatened to impose 25% tariffs on Canadian goods and accused Ottawa of failing to resolve trade and immigration issues.
  • The Trudeau-Trump talks were marked by Trump's repeated jokes about Canada being the "51st state of the United States". In particular, on 8 January, Trump posted maps depicting Canada as part of the United States. 
  • On 9 January, the media reported that the Canadian government was considering imposing tariffs on a wide range of US-made goods if Trump follows through on his threat to impose a 25% duty on Canadian imports.
  • Canadian Ambassador to the United States Kirsten Gillman said that the country is ready to buy more goods from the United States, including its next fleet of submarines.
  • Nonetheless, she stressed that such a move was being considered to calm US President-elect Donald Trump's concerns about the trade deficit between the two countries.
  • On 14 January, Trump announced that he would create a Foreign Revenue Service to collect revenue from the massive tariffs he has promised to impose.

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