Donald Trump on Thursday announced a 35% tariff on Canadian imports, starting Aug. 1, citing that Ottawa had retaliated with tariffs against Washington.
“Instead of working with the United States, Canada retaliated with its own Tariffs,” Trump said in his letter to Mark Carney, prime minister of Canada, posted on Truth Social.
Honestly, is there anything stopping a country from just “mirroring” US tariffs? US gives them X% tariffs, they give the US X% tariffs back. Is this feasible? Or is it a crappy idea?
I think this is what Europe has done in the past, however you want to target products that don’t damage your own economy by making them more expensive. That seems harder to do.