Ottawa, Sept. 09 (SANA) Canadian Prime Minister Mark Carney said Tuesday that reducing Canada’s economic dependence on the United States would come at a cost but would deliver clear long-term benefits, as new Canadian tariffs on US products took effect.
Speaking to reporters Tuesday, Carney said Canada had everything it needed “to transform and thrive,” adding that the cost of doing so was far lower than “the cost of standing still,” according to Agence France-Presse.
“I don’t believe in escalating the conflict, but the tariffs we are imposing are necessary to protect our workers, businesses and communities,” Carney said. “This is about who we are as Canadians, our livelihoods and the future of our country.”
The new Canadian tariffs took effect on US$20 billion worth of American imports, including steel and aluminum products as well as dairy products such as cheese.
The measures followed tariffs imposed by US President Donald Trump on Canadian goods of similar value over what Washington described as discriminatory treatment of US alcohol, automotive and dairy sectors.
As the trade dispute between Canada and the United States intensifies, the new measures add pressure to the countries’ closely integrated trading relationship.
While the US tariffs pose a limited risk to Canada’s economy as a whole, analysts say they are likely to affect the manufacturing sector in central Canada more severely.
Canada maintains close trade ties with the United States. About 60 percent of Canadian imports come from the US market, while approximately 70 percent of Canadian exports are destined for the United States.
R.H/R.K
