Canada Vows to Retaliate If Trump Imposes Tariffs

The transcript discusses the US's intention to impose tariffs on steel and aluminum, highlighting Canada's $2 billion surplus with the US. It explores Canada's potential responses, including the ongoing NAFTA talks and the possibility of retaliation. The reaction in Canada mirrors that of corporate America, with widespread negativity and some hope for exemptions. Corporate Canada is concerned about the impact on trade and expansion plans. The transcript also covers union and political reactions, with some calling for Canada to walk away from NAFTA talks if excluded from tariff exemptions.

What was the USA's financial position on steel trade with Canada when considering tariffs?

• A $2 billion deficit

• A $2 billion surplus

• A balanced trade

• A $1 billion surplus

What was the general reaction in Canada and corporate America to the proposed tariffs?

• Positive and supportive

• Indifferent

• Almost universally negative

• Eager for implementation

How did some companies outside the US react to the tariff news?

• They ignored the news

• They planned to increase their US investments

• They considered suspending or delaying expansion plans

• They decided to move their operations to the US

What was the stance of Canada's biggest private sector union regarding the tariffs?

• They suggested walking away from NAFTA talks if not excluded

• They supported the tariffs

• They remained neutral

• They proposed increasing tariffs on US goods

What was the potential action Canada might take if excluded from tariff exemptions?

• Increase tariffs on US goods

• Walk away from NAFTA talks

• Negotiate a new trade deal

• Seek arbitration