CANADA: Reciprocol Canadian Tariffs To Come Into Effect On Thursday

Reuters reporting comments from Canadian Finance Minister Dominic LeBlanc on countermeasures from Ottawa in response to US steel and aluminium tariffs that went into effect today. 

• LeBlanc says: "Canada will impose 25% retaliatory tariffs on US goods worth C$29.8 bln from March 13... Canada's tariffs will include steel products worth C$12.6 bln, aluminum products worth C$3 billion, and additional US goods worth C$14.2 billion."
• LeBlanc adds that, "additional products affected by Canada's counter tariffs includes computers, sports equipment and cast iron products."
• Foreign Minister Mélanie Joly said: “Only cause for tariffs appears to be President Trump's goal of annexing Canada as 51st state”
• Notably, the implementation date comes on the same day Canadian officials are slated to meet with Commerce Secretary Howard Lutnick and USTR Jamieson Greer at the White House to discuss the USMCA.
• While the comments point at an acceleration of the trade war, Prime Minister-designate Mark Carney appeared to offer some concessions yesterday on the key issues Trump's tariff agenda seeks to address, including defence spending and securing the border - proving a potential offramp to escalate the standoff.
• Carney said on X: “Both Canadians and Americans expect their governments to maintain a secure border.” Adding in a later message: “Together as Canadians, we’re going to meet our 2% NATO spending target by 2030, modernize NORAD, strengthen our Arctic presence, and ensure we build a strong, resilient Canada.”