Canada has announced retaliatory tariffs of 25% on nearly $30bn in US imports as a response to Donald Trump imposing tariffs on steel and aluminum imports. The finance minister, Dominic LeBlanc, stated that the tariffs will be imposed on March 13, 2025, targeting goods worth $29.8bn, including steel, aluminum, computers, sports equipment, and cast iron products. This move comes amidst escalating trade tensions between the two countries, with the US imposing tariffs on major trading partners and facing backlash in the form of boycotts from international consumers against US goods.
In other news, US Secretary of State Marco Rubio criticized EU policies for interfering with US efforts to rebuild its manufacturing sector and accused them of being out of step with reality. Meanwhile, the US inflation rate remained stable in February despite fears of price increases due to the trade war. Additionally, Greenland underwent a political upheaval in its recent elections, with gains made by parties supporting independence from Denmark.
In a separate development, US senator Elizabeth Warren demanded that Trump’s nominee to lead Medicare, Mehmet Oz, divest financial ties to healthcare and pharmaceutical companies to prevent conflicts of interest. This comes as Oz faces a confirmation hearing before the Senate finance committee. The move signifies growing scrutiny over Trump’s nominees and their potential conflicts of interest.
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