The Canadian prime minister has promised to retaliate against US duties on steel and aluminum

Canadian Prime Minister Justin Trudeau has denounced the recent imposition by the US of a 25% tariff on steel and aluminum imports, describing the move as "unacceptable." Trudeau has emphasized that Canada would "stand up strongly and firmly" against these measures if necessary.

The tariffs, announced by US President Donald Trump on Monday, are set to take effect in March and apply universally, without exemptions. This policy shift has raised concerns among key US allies and trading partners, including Canada, Mexico, the EU and South Korea. Canada, being the largest supplier of steel to the US, is expected to be significantly impacted by these levies.

Speaking at an artificial intelligence summit in Paris on Tuesday, Trudeau stated that his government will take "all necessary steps" to defend Canadian workers and industries. "We will not be bullied by these unfair trade practices," he said, emphasizing Canada's long-standing role as a reliable trading partner.

Earlier this week, the Canadian Steel Producers Association (CSPA) called the tariffs "damaging and unnecessary," warning they could lead to job losses and supply chain disruptions. "These tariffs will hurt businesses on both sides of the border," said Catherine Cobden, president of the CSPA. "We urge the US administration to reconsider its approach before it does irreversible harm."

In response to the US action, European Commission President Ursula von der Leyen stated on Tuesday that the EU would implement "firm and proportionate countermeasures" to protect its economic interests. Brussels has prepared retaliatory tariffs of up to 50% on $5 billion worth of American imports, targeting products such as bourbon whiskey, Harley-Davidson motorcycles, and motorboats, the Financial Times reported on Tuesday.

Mexico, another major US trading partner, condemned the decision, with Economy Minister Marcelo Ebrard calling it "not justified" and "unfair," according to Reuters. South Korea has reportedly also expressed its intent to respond to protect its economic interests.

Analysts, cited by the media outlet, have warned that these escalating trade tensions could disrupt international supply chains, increase costs for consumers, and potentially lead to a global trade war. The US steel industry, which the tariffs aim to protect, may face retaliatory measures that could offset any potential benefits from the tariffs, according to them.

(RT.com)