Trump says tariffs planned for Feb. 1; Trudeau says everything on the table for response

After making no move to impose tariffs against Canada on his first day in office, U.S. President Donald Trump has signalled his intention to bring the promised economic measures into effect at the start of February.

Monday reports confirmed Trump would not impose the 25 per cent tariffs immediately upon taking office, but the newly inaugurated President reaffirmed his intention to impose the measure later in the day.

“We’re thinking in terms of 25 per cent on Mexico and Canada because they’re allowing vast numbers of people… Canada’s a very bad abuser also, vast numbers of people to come in and fentanyl to come in,” Trump told reporters in the Oval Office Monday evening.

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Trump’s threatened tariffs have been a source of uncertainty and stress among producers since he first suggested them in late November.

Prime Minister Justin Trudeau reaffirmed his statement that “everything is on the table” to respond to Trump’s tariffs at a Tuesday morning press conference, including a dollar-for-dollar response.

“We are prepared for every possible scenario.”

“We heard the President’s comments yesterday and the directive he has issued to examine the trade relationship between Canada and the United States while exploring the possibility of tariffs,” said Trudeau, “but we remain confident in the fact that Canadian energy powers American manufacturing, businesses and homes.”

“Our trade relationship with the United States is win-win,” the Prime Minister said in French, “we will therefore continue to use all the tools at our disposal to demonstrate it.”

“We will look, as we have in the past at things that have replacements for Canadian consumers that wouldn’t be tariffed.”

“The example from last time,” Trudeau continued, “was Heinz’s ketchup being replaced by French’s ketchup, because French’s was still using Canadian tomatoes.”

“Having Canadian consumers having alternatives to having to spend tariffs on American inputs is part of how we make sure that we don’t bear, Canadians don’t bear undue costs around tariffs.”