On March 4th, after US President Trump confirmed on March 3rd local time that tariffs would be imposed on Canada and Mexico on March 4th, Canadian Foreign Minister Jolly stated that Canada is ready with a series of retaliatory measures that can be immediately countered. Jolly stated that Canada had previously announced its readiness to impose retaliatory tariffs on $155 billion worth of US goods. The first retaliatory tariffs will involve $30 billion worth of American products. She stated that US tariffs pose an existential threat to Canada. Thousands of jobs in Canada are at risk. If the United States decides to launch a trade war, Canada is already prepared. It is reported that she will hold a meeting with other cabinet members on the evening of the same day to discuss the country’s next steps in the face of the possibility of economic collapse.
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