(UPDATE: March 4 at 10:16 am): Donald Trump has responded to Justin Trudeau's announcement this morning, in which the prime minister confirmed Canada will go ahead with $155 billion of tariffs on US goods.
Writing on his Truth Social platform, the president said: "Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!"
Conservative Leader Pierre Poilievre, meanwhile, said in his own press conference this morning that Trump has "stabbed America’s best friend in the back."
He said "Canada will fight back" and "defend our people and our economy."
"Canadians are slow to anger and quick to forgive," he added. "But once provoked, we fight back."
Poilievre also said the federal government should cut taxes to counteract the effects of Trump's tariffs.
BC Premier David Eby also spoke today, saying the province will "respond in kind" to the levies.
He said "all bets are off" and BC was now free to choose Canadian companies ahead of American ones when it comes to procurement.
Liquor will be another target, he said, with all booze from Republican states taken off the shelves in BC Liquor stores.
(UPDATE: March 4 at 8:10 am): Justin Trudeau has said the US has "launched a trade war against Canada."
He said that has occurred at the same time as US President Donald Trump is "appeasing Vladimir Putin."
“Make that make sense," Trudeau said in Ottawa this morning.
Canadians are reasonable and polite, he added, but the country will "not back down." Speaking directly to Trump, he said: "This is a very dumb thing to do."
He also said Trump's complaints about fentanyl are "bogus" and claimed the president appeared to be more interested in destroying the Canadian economy so the country would be easier to annex, something Trudeau said will never happen.
The prime minister said he intends to file complaints with both the World Trade Organization and the USMCA.
“There are no winners in a trade war," Trudeau said, adding that the US and Canada should be working together rather than helping the countries' enemies by fighting.
If the Americans do not withdraw the tariffs on Canadian goods, Canada will maintain its own 25 per cent tariff on $155 billion of American goods, Trudeau said.
He also said Canada will be looking at non-tariff measures to punish the US.
The federal government "will be there as needed to help," Trudeau emphasized, no matter the cost.
"We will defend Canadian jobs," he said, adding: "We will relentlessly fight to protect our economy."
(UPDATE: March 4 at 7:49 am): The prime minister is set to speak about President Trump's decision to hit Canada with a 25 per cent blanket tariff and 10 per cent tariff on energy.
It was due to begin at 7:30 am PST, but has been delayed for an unspecified period of time.
He is set to be joined by Minister of Finance Dominic LeBlanc, Foreign Affairs Minister Mélanie Joly and Public Safety Minister David McGuinty.
(Original story: March 4 at 5:30 am): The US tariffs on Canadian goods – 10 per cent on energy, 25 per cent on everything else – have gone into effect.
President Donald Trump’s executive order targeting Canada, Mexico and Mexico was enacted at midnight.
Canada has immediately struck back with a 25 per cent tariff on $30 billion of American goods.
Another $125 billion will be hit by the same tariff in just under three weeks.
Prime Minister Justin Trudeau said in a statement on Monday night that Canada “will not let this unjustified action go unanswered.”
He added: “Our tariffs will remain in place until the US trade action is withdrawn, and should US tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures.
“While we urge the US administration to reconsider their tariffs, Canada remains firm in standing up for our economy, our jobs, our workers, and for a fair deal.”
Trudeau is set to hold a press conference this morning at 7:30 am PST. Tory Leader Pierre Poilievre has his own conference planned for 8:30 am.
Stock markets registered declines on Monday, with the S&P 500, Dow Jones Industrial Average and NASDAQ down between 1.5 and 2.6 per cent.
Ontario Premier Doug Ford, meanwhile, told an American interviewer on Monday that he would strike back with ferocity if Trump went ahead with the tariffs.
He pledged to cut electricity to the US and ban the sale of critical minerals to Canada’s southern neighbour.
