Canadian Foreign Minister Chrystia Freeland stated “we will not back down” in regards to US imposed tariffs on Canadian imports. Justin Trudeau’s government will apply a 25 per cent tariff on steel products, and 10 per cent on aluminum and consumer goods.
Politically, it would have been better if Justin Trudeau’s government lowered tariffs and issued the following statement:
“We do not want to hurt the citizens/consumers of Canada with higher prices. Therefore, in response to US raising tariffs ,we will be lowered tariffs across the board.”
This statement would have made headlines and put US officials on the defense when raising tariffs in the future. The Canadian government then should have posted the story of Stulta and Puera.
Putting aside all of the above, let me bottom line this:
The dollar value of total tariffs being discussed is less than 0.25% of US GDP. As of right now, the ‘trade war’ is a lot of hysteria.