Trudeau: Canadians will not back down from a fight

• Reiterates $30 billion in retaliatory tariffs immediately
• Further $125 billion scheduled in 21 days
• Will file challenges via USMCA and WTO
• We are in discussions with provinces about non-tariff measures
• We don’t want this trade war
• Says US government has chose to put American jobs at risk
• US has chosen to sabotage its own agenda
• The legal pretext around fentanyl is ‘totally false’
• Far less than 1% of fentanyl flows and 1% of illegal immigration comes from Canada
• There was a 97% drop in fentanyl flows from December to January
• We did everything we promised on fentanyl, we stuck to our word
• Says to Trump: You’re a smart guy, this is a very dumb thing to do
• Says to Canadians ‘this is going to be tough’ says will offer more supports
• It’s not very clear what Trump wants
• Our focus is to make sure that these tariffs don’t last a second longer than necessary

There is nothing surprising here but the tone doesn’t exactly sound like there is a deal to make.

More:

Trudeau says Trump’s fentanyl pretext for tariffs on Canada is “completely bogus, completely unjustified, completely false.” He said Trump appears to be seeking “a total collapse of the Canadian economy” to make it easier to annex the country.

This article was written by Adam Button at www.forexlive.com.