Canadian finance minister notes Trump tariff threat in resignation letter
Canada's finance minister noted President-elect Trump’s tariff threat in her resignation letter dated Monday.
“Our country today faces a grave challenge,” Chrystia Freeland said in a letter addressed to Canadian Prime Minister Justin Trudeau. “The incoming administration in the United States is pursuing a policy of aggressive economic nationalism, including a threat of 25 per cent tariffs.”
“We need to take that threat extremely seriously,” she added. “That means keeping our fiscal powder dry today, so we have the reserves we may need for a coming tariff war. That means eschewing costly political gimmicks, which we can ill afford and which make Canadians doubt that we recognize the gravity of the moment.”
The president-elect said in posts on Truth Social last month that he would enact 25 percent tariffs on Canadian and Mexican goods, while adding an extra 10 percent tariff on Chinese goods.
The aim of the tariffs, according to Trump, is to press the countries to increase their efforts on border security and combating fentanyl exports to the U.S.
“Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem. We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!” Trump said on Truth Social.
Last week, Trump also mocked Trudeau as the “governor” of the “Great State of Canada” in a Truth Social post.
In her letter, Freeland argued for “pushing back against 'America First' economic nationalism with a determined effort to fight for capital and investment and the jobs they bring.”
“That means working in good faith and humility with the Premiers of the provinces and territories of our great and diverse country, and building a true Team Canada response,” she added.
The Hill has reached out to Trudeau’s office and the Trump transition team for comment.