INSUBCONTINENT EXCLUSIVE:
China's Ministry of Commerce on Saturday announced tariffs on Canadian agricultural and food products, a move it said was a response to
levies Ottawa imposed on Chinese products that reflect the type of protectionism championed by the Trump administration.The announced
countermeasure, which will take effect on March 20, includes a 100 percent tariff on Canadian rapeseed oil, oil cakes, and pea imports and a
25 percent duty on Canadian aquatic products and pork, according to a statement by the ministry.It said Canada's 100 percent tariff on
Chinese EVs and 25 percent levy on its aluminum and steel products constituted discriminatory measures that have disrupted normal trade and
harmed the legitimate rights and interests of Chinese enterprises. Though directed at a previous U.S.-led campaign targeting the alleged
overcapacity of Chinese-made EVs, the response has now drawn sharp focus to a broader trade war driven by the Trump administration.Since
President Donald Trump has aggressively promoted protectionist policies by unleashing a barrage of tariffs and issuing tariff threats
against many of America's trading partners
These moves, while part of a broader strategy intended to pressure other countries into meeting his demands, have unsettled global markets
and sparked swift retaliatory measures from affected nations, risking wider economic repercussions.Canada, which had imposed its tariffs on
Chinese products following the U.S
lead, is now also in the crosshairs of Trump's tariff offensives.For China, however, it sees tariffs imposed by both the U.S
and Canada as similarly unilateral measures that have violated World Trade Organization rules.At a press conference on Friday, Chinese
Foreign Minister Wang Yi urged the U.S
to reflect on itself: What has it gained from its trade wars and whether the competitiveness of the U.S
manufacturing industry has improved or otherwise?Noting that China-U.S
economic and trade relations are mutually beneficial and reciprocal, he said cooperation will lead to mutual benefits and win-win
outcomes.However, if the U.S
chose to continue applying pressure, China would respond with firm countermeasures, Wang added.'Stand its ground,' the U.S.-Canadian
frontThe Chinese countermeasure comes as Canada itself has been embroiled in an escalating trade war with its biggest trade partner & the
United States, whose trade hostilities have triggered widespread anger within its northern neighbor.Canadian daily The Globe and Mail urged
Ottawa to stand firm against Trump's erratic tariff maneuvers, arguing his recent imposition of a 25 percent tariff on imports is not a
negotiating tactic but a deliberate strategy to sow instability and project power.The Trump administration on Tuesday moved forward with a
plan by imposing a 25 percent tariff on most Canadian and Mexican imports but later suspended some of the levies amid mounting pressure from
The exemptions, which include auto and energy products, will expire on April 2, when Trump has threatened to impose a global regime of
reciprocal tariffs on all U.S
trading partners.In its editorial, The Globe and Mail contended that Canada and its partners must not be swayed by Trump's shifting rhetoric
Instead of engaging in drawn-out talks over issues like illegal immigration and drug trafficking, Canada should implement a
dollar-for-dollar retaliatory tariff regime while simultaneously strengthening its own trade alliances and internal economic measures, it
This, the newspaper's board argued, is the only sensible approach to counter a policy that could wreak havoc on both sides of the border.U.S
economists have been vocal about the potential fallout from Washington's aggressive trade policies
Some warn that the tariffs could slow U.S
economic growth significantly and raise consumer prices, increasing the risk of stagflation & a scenario where sluggish growth coincides
with rising inflation.​At a conference of the National Association for Business Economics held on Monday, analysts were generally wary
about the tariffs and what they could do to the U.S
Michael Strain, an economist from the conservative American Enterprise Institute, projected that the suggested import taxes might reduce
economic growth by up to 0.5 percent.Canada must ignore the noise of Trump's fluctuating policy and instead focus on decisive, reciprocal
action to protect its economic interests, The Globe and Mail's editorial said.
