Daystar news blog & magazine
  • Trending
  • World
  • Business
  • Politics
  • Sports
  • Science
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup

    Thousands worldwide benefit from KSrelief medical programs

    Trent Alexander-Arnold to leave Liverpool

    Saudi minister in China to explore education, research cooperation

    Bangladesh’s largest private airline starts Riyadh flights as demand grows

    Palestinian Oday Dabbagh scores as Aberdeen beat Hearts 2-1 to reach Scottish Cup final

    Morocco U-17 make history after winning their first AFCON title

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Ferrari Roma Spider road test: Drop-top model offers speed, style and sportiness

    Ferrari Roma Spider road test: Drop-top model offers speed, style and sportiness

    Soufiane Rahimi: Al Ain’s lodestar primed to shine in Asian Champions League final

    Soufiane Rahimi: Al Ain’s lodestar primed to shine in Asian Champions League final

    Dubai Esports and Games Festival expected to reach next level as biggest and best yet

    Dubai Esports and Games Festival expected to reach next level as biggest and best yet

    Can C’s afford to keep Hauser long-term? Salary cap guru weighs in

    Can C’s afford to keep Hauser long-term? Salary cap guru weighs in

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    macOS Sierra review: Mac users get a modest update this year

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel

    Shooting More than 40 Years of New York’s Halloween Parade

    Heroes of the Storm Global Championship 2017 starts tomorrow, here’s what you need to know

    Why Millennials Need to Save Twice as Much as Boomers Did

    Doctors take inspiration from online dating to build organ transplant AI

    How couples can solve lighting disagreements for good

    Ducati launch: Lorenzo and Dovizioso’s Desmosedici

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Intel Core i7-7700K ‘Kaby Lake’ review

No Result
View All Result
  • Trending
  • World
  • Business
  • Politics
  • Sports
  • Science
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup

    Thousands worldwide benefit from KSrelief medical programs

    Trent Alexander-Arnold to leave Liverpool

    Saudi minister in China to explore education, research cooperation

    Bangladesh’s largest private airline starts Riyadh flights as demand grows

    Palestinian Oday Dabbagh scores as Aberdeen beat Hearts 2-1 to reach Scottish Cup final

    Morocco U-17 make history after winning their first AFCON title

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Ferrari Roma Spider road test: Drop-top model offers speed, style and sportiness

    Ferrari Roma Spider road test: Drop-top model offers speed, style and sportiness

    Soufiane Rahimi: Al Ain’s lodestar primed to shine in Asian Champions League final

    Soufiane Rahimi: Al Ain’s lodestar primed to shine in Asian Champions League final

    Dubai Esports and Games Festival expected to reach next level as biggest and best yet

    Dubai Esports and Games Festival expected to reach next level as biggest and best yet

    Can C’s afford to keep Hauser long-term? Salary cap guru weighs in

    Can C’s afford to keep Hauser long-term? Salary cap guru weighs in

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    macOS Sierra review: Mac users get a modest update this year

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel

    Shooting More than 40 Years of New York’s Halloween Parade

    Heroes of the Storm Global Championship 2017 starts tomorrow, here’s what you need to know

    Why Millennials Need to Save Twice as Much as Boomers Did

    Doctors take inspiration from online dating to build organ transplant AI

    How couples can solve lighting disagreements for good

    Ducati launch: Lorenzo and Dovizioso’s Desmosedici

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review

    The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

    Shadow Tactics: Blades of the Shogun Review

    macOS Sierra review: Mac users get a modest update this year

    Hands on: Samsung Galaxy A5 2017 review

    The Last Guardian Playstation 4 Game review

    Intel Core i7-7700K ‘Kaby Lake’ review

No Result
View All Result
Daystar news blog
No Result
View All Result
Home Highlights

Bank of Canada cuts interest rate, highlights risk of Trump’s tariffs

daystarnews by daystarnews
December 12, 2024
in Highlights
0
Bank of Canada cuts interest rate, highlights risk of Trump’s tariffs
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

TORONTO — The premier of Canada’s most populous province said Wednesday he will cut off energy to the United States if President-elect Donald Trump imposes sweeping tariffs on all Canadian products.

Trump has threatened to impose a 25% tax on all products entering the U.S. from Canada and Mexico unless they stem the flow of migrants and drugs.

“We’re going to put our list together, and I’m sure the other provinces will as well. But we will go to the full extent, depending on how far this goes. We will go to the extent of cutting off their energy,” Ontario Premier Doug Ford said after meeting with Canadian Prime Minister Justin Trudeau and other provincial premiers.

Ford said he didn’t want this to happen but wasn’t optimistic Canada could avoid tariffs.

“This fight is 100% coming on Jan. 20 or Jan. 21,” he said, referencing to the date of Trump’s inauguration.

“We will use every tool in our tool box to fight back. We can’t sit back and roll over. We just won’t as a country. And isn’t this a shame, our closest friends and allies.”

About 60% of U.S. crude oil imports are from Canada, and 85% of U.S. electricity imports as well.

It wasn’t immediately clear if Ford was talking about all Canadian provinces cutting off energy exports to the U.S. or just his province. But a spokeswoman for Ford, Grace Lee, said it was raised in the call between Trudeau and the provincial premiers.

“Premier Ford can only speak on behalf of Ontario, but its an area of provincial jurisdiction that we would certainly look at,” Lee said in an email.

Lee noted Ontario powered 1.5 million homes in the U.S. in 2023 and is a major exporter of electricity to Michigan, Minnesota and New York.

Trump’s transition team did not immediately respond to a request for comment on the threat.

Canada is also the largest foreign supplier of steel, aluminum and uranium to the U.S. and has 34 critical minerals and metals that the Pentagon is eager for and investing for national security.

“Canada, of course, will respond to unjustified tariffs,” Deputy Prime Minister Chrystia Freeland said after the meeting.

Freeland said a number of provincial premiers voiced support for a robust response to the tariffs and said that included critical minerals that are exported to the U.S.

She didn’t specifically mention oil but said “obviously other ideas were discussed as well” when asked if Canada is considering cutting off oil exports to America.

About a third of Canada’s trade to the U.S. is energy.

Nearly $3.6 billion Canadian (US $2.7 billion) worth of goods and services cross the border each day. Canada is the top export destination for 36 U.S. states.

Canada has promised more border security spending to address Trump’s concerns. Ford said that will include more border and police officers as well as drones and sniffer dogs.

“A priority will be to share details of this plan with the incoming Trump administration and with Canadians in the coming days,” Public Safety Minister Dominic LeBlanc said.

Trudeau said this week tariffs would be “absolutely devastating” for the Canadian economy, but it would also mean real hardship for Americans.

Economists say companies would have little choice but to pass along the added costs, dramatically raising prices for food, clothing, automobiles, alcohol and other goods.

The Produce Distributors Association, a Washington-based trade group, has said tariffs will raise prices for fresh fruit and vegetables and hurt U.S. farmers when the countries retaliate.

Canada imposed duties in 2018 against the U.S. in a tit-for-tat response to new taxes on Canadian steel and aluminum.

Canada’s central bank, meanwhile, lowered its key interest rate by half a percentage point on Wednesday and called Trump’s threat to impose sweeping new tariffs on Canada “a major source of new uncertainty.”

“We did underline that the threat of new tariffs on Canadian exports, particularly at the level suggested, that is a major source of new uncertainty,” Bank of Canada Tiff Macklem said at a press conference. “But the reality is we don’t know if those tariffs are going to be implemented.

“We don’t know if exemptions are going to be agreed on some parts, we don’t know at what level, we don’t know if Canada will take retaliatory measures.”

Trudeau, meanwhile, got the attention of billionaire Elon Musk, a big supporter of Trump, with comments he made Tuesday lamenting that U.S. voters selected Trump over Kamala Harris as president.

“We were supposed to be on a steady if difficult sometimes march toward progress. And yet, just a few weeks ago, the United States voted for a second time to not elect its first woman president,” Trudeau said at a event sponsored by Equal Voice, an organization dedicated to improving gender representation in Canadian politics. “Everywhere, women’s rights and women’s progress is under attack — overtly and subtly.”

Musk called Trudeau “insufferable” in a post on X. “Won’t be in power for much longer,” he wrote.

Ford also criticized Trudeau for the remarks.

“They are not helpful at all. It was brought up a couple of times in our meeting,” Ford said. “Donald Trump was elected democratically. If you like him or you don’t like him that’s not our issue. We elect Canadians and it was not helpful whatsoever. I’m sure the prime minister got the message loud and clear.”

Read More

Previous Post

Forex Today: ECB and SNB rate decision, US data to keep action going

Next Post

Iranian Supreme Leader Ayatollah Khamenei blames ‘joint American-Zionist plot’ for overthrow of Assad

daystarnews

daystarnews

Next Post
Iranian Supreme Leader Ayatollah Khamenei blames ‘joint American-Zionist plot’ for overthrow of Assad

Iranian Supreme Leader Ayatollah Khamenei blames ‘joint American-Zionist plot’ for overthrow of Assad

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest

HEADLINE: CENK TORUN FACES INTENSE LEGAL AND PERSONAL BATTLES. NAVIGATING COURTS, MANAGEMENT DISPUTES AND A DIVORCE. 

April 30, 2025

SHOCKING BLAST ROCKS CONSTRUCTION SITE AS AN AMERICAN CONTRACTOR WAS DETAINED THREE DEAD AND FIVE OTHERS INJURED.

October 27, 2024

THE POWER PLANT CONSTRUCTION SITE COLLAPSED IN DUBAI LEAVING ONE WORKER DEAD AND TWO OTHERS INJURED.

August 11, 2024

CEO OF PAVEL AND CONSTRUCTION COMPANY RELEASED FROM THE CUSTODY OF THE DEPARTMENT OF CORRECTIONAL SERVICES (DCS) IN SOUTH AFRICA.

July 5, 2024

Hello world!

1

The Legend of Zelda: Breath of the Wild gameplay on the Nintendo Switch

0

Shadow Tactics: Blades of the Shogun Review

0

macOS Sierra review: Mac users get a modest update this year

0

NASA’s LRO Views Japan’s RESILENCE Lunar Lander Landing Area

May 17, 2025

15 Israeli jets drop 35 bombs on Houthi targets: New details on airstrike in Yemen

May 17, 2025

Bitcoin to $175K? Analyst Says Moon Mission Is ‘Solid as a Rock!’

May 17, 2025

Libyan ministers resign as protesters call for government to step down

May 17, 2025

Recent News

NASA’s LRO Views Japan’s RESILENCE Lunar Lander Landing Area

May 17, 2025

15 Israeli jets drop 35 bombs on Houthi targets: New details on airstrike in Yemen

May 17, 2025

Bitcoin to $175K? Analyst Says Moon Mission Is ‘Solid as a Rock!’

May 17, 2025

Libyan ministers resign as protesters call for government to step down

May 17, 2025
Daystar news online

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow Us

Browse by Category

  • Apps
  • Business
  • Entertainment
  • Fashion
  • Food
  • Gadget
  • Gaming
  • Health
  • Highlights
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • Politics
  • Review
  • Science
  • Sports
  • Startup
  • Tech
  • Travel
  • Uncategorized
  • World

Recent News

NASA’s LRO Views Japan’s RESILENCE Lunar Lander Landing Area

May 17, 2025

15 Israeli jets drop 35 bombs on Houthi targets: New details on airstrike in Yemen

May 17, 2025

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.