The president of Mexico announced on Tuesday that she will respond to the tariffs decreed by Donald Trump with more tariffs, while the Canadian prime minister said that the U.S. president is appeasing Russia while launching a trade war against Canada.
Mexican President Claudia Sheinbaum did not specify the amount of the tariffs nor the products that would be affected. She will announce the details in five days, indicating that she still hoped to avoid a trade war.
Since shortly after midnight, imports to the United States from Canada and Mexico are subject to a 25% tariff, while Canadian energy exports—mainly oil—are subject to a 10% tariff.
The measures by Trump and the announcement from his North American partners to respond in the same manner left global markets on alert.
“We have decided to respond with tariff and non-tariff measures that I will announce in the public square next Sunday,” Sheinbaum indicated in her morning conference.
However, the president insisted that Mexico will always seek a negotiated solution and left the door open for the possibility of reaching an agreement when speaking with Trump, likely on Thursday.
“Something very silly”
Canadian Prime Minister Justin Trudeau called the U.S. tariffs “something very silly” and stated that the President of the United States, Donald Trump, is appeasing Russia while launching a trade war against Canada.
In a press conference, held during his last days in office and where he spoke candidly, Trudeau said that Canada would impose retaliatory tariffs on more than $100 billion of U.S. goods in response to Trump’s 25% tariffs.
“Today, the United States launched a trade war against Canada, its closest partner and ally, its closest friend. At the same time, it talks about working positively with Russia, appeasing Vladimir Putin, a lying and murderous dictator. Someone explain this,” said Trudeau, visibly angry.
Trump imposed tariffs against Washington’s three main trading partners, provoking immediate retaliation from Mexico, Canada, and China, and causing a drop in financial markets. Just after midnight, Trump imposed 25% tariffs on Mexican and Canadian imports, although he limited the levy on Canadian energy to 10%.
Trudeau addressed Trump directly by his first name.
“I want to speak directly to a specific American, Donald,” said Trudeau. “It’s not usual for me to agree with the Wall Street Journal, but Donald, they point out that, although you’re a very smart guy, this is something very dumb.”
Trudeau also addressed the American public, saying that Canada does not want this trade war, but Trump has decided to do this to them.
“How do Americans feel about abandoning their friends and allies in favor of a country that has never wished the best for Americans and continues to act in ways that harm the global economy and, specifically, the American economy and values and principles?” said Trudeau about Russia.