U.S. President Donald Trump’s tariffs only make goods more expensive for Americans, said Canada’s Trade Minister Mary Ng, reiterating a vow to retaliate if the country’s largest trading partner goes forward with import duties.
“We’ve been very clear — tariffs are expensive for America. They make no sense,” Ng said in a Bloomberg TV interview in Singapore Thursday, adding that Canada continues to work with the US administration on the matter. “We don’t want to be here. We don’t want to initiate anything but should there be punishing tariffs on Canadians and Canada, we will respond accordingly.”
Trump has threatened a range of tariffs that would upend trade with America’s northern neighbor and slam Canada’s economy. In addition to the 25% tariffs on imports from Canada that are currently paused, he’s announced plans for reciprocal levies on trading partners and this week said he intends to impose 25% import duties on autos, pharmaceutical products and chips — now adding lumber to that list.
The country-specific tariffs, which Trump originally signed in an executive order Feb. 1, were delayed for 30 days after Canada announced a task force on fentanyl and a head enforcer for the group. Trump complained that the drug was entering the US through the border with Canada, as well as unauthorized migrants. Less than 1% of fentanyl in the US enters through the border with Canada, Ng said.
The international trade minister, who’s in Asia this week for meetings with partners including in Australia, underscored the importance of the US relationship, saying that officials are “making progress” on issues between the two neighbors.
At the same time, she pointed to the importance of other global trade partners and their joint need for stability.
“Standing up for a rules based international order, particularly around trade, is something” Canada and partners will need to “work hard at defending,” Ng said.
With assistance from Naman Tandon.
Katia Dmitrieva and Haslinda Amin, Bloomberg News
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