My Take | Ottawa caught between rock and hard place with US, China tariffs
At least Beijing only retaliates economically but will never threaten Canada’s sovereignty and territorial integrity like America is doing
Most Canadians are rightly furious at the trade war being launched by Washington against their country. Even many foreigners sympathise with what looks like a fight between David and Goliath.
Now, Canada faces another front. At the weekend, China announced a 100 per cent tariff on Canadian rapeseed oil, oilcake, and peas as well as a 25 per cent tariff on aquatic products and pork.
China is Canada’s second-largest trading partner, after the United States. You don’t need to be an economist to know this is very bad.
This time, though, it may be more difficult to sympathise with Canada, which really was asking for it.
Back in August, for no real good reason other than following similar measures from the US, Ottawa imposed a 100 per cent tariff on imports of Chinese-made electric vehicles and a 25 per cent tariff on Chinese steel and aluminium. Now Canada gets the worst of both worlds – having angered China without placating the US.
US Treasury Secretary Scott Bessent is now goading Canada and Mexico to match US tariffs on Chinese goods by hinting, but not promising, that in doing so, they might avoid the 25 per cent US tariffs they are facing.