00:00Well, Canada has responded to the new tariffs the US administration just levied against it.
00:05Prime Minister Mark Carney matched what US President Donald Trump put into effect after
00:10trade talks collapsed. Existing counter tariffs on US steel and aluminum products will double to
00:1750%. American made milk, furniture, clothing, video game consoles, smartphones and other
00:23electronics will also have new 50% duties applied. Canada's new counter tariffs will hit firm shipping
00:31from Ohio, Illinois, Pennsylvania, Michigan and California the hardest according to a Bloomberg
00:37analysis. These retaliatory levies will affect $20 billion worth of annual US exports to Canada.
00:45Many of these counter tariffs were actually put into effect by Justin Trudeau soon after
00:50Trump started this trade war. Carney lifted many of those in order to try to repair the relationship
00:57between the two countries hoping to make a deal. But ultimately the terms proposed by the US
01:04administration were uneconomic, unfair and ultimately unacceptable. They asked too much of Canada
01:14and offered too little in return. But the escalating trade war isn't
01:19the only thing in Trump's line of sight. He has traded bars with Ontario Premier
01:24Doug Ford on social media and said in a post he was giving serious consideration to renaming
01:30Lake Ontario, Lake America. Canada is putting into place a safety net for Canadian businesses
01:36businesses and is encouraging citizens to buy Canada made goods.
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