Canadian Foreign Minister Joly Discusses U.S.-Canada Trade War Due To Trump Tariffs

2 days ago

Canadian Foreign Minister Melanie Joly discusses the trade war between the U.S. and Canada due to President Trump's tariffs.

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Transcript

00:00We've been working together, the foreign minister of Mexico and I have been in close

00:06contact for many weeks now.

00:07It's been more than 90 days that we've been dealing with different executive orders coming

00:12out of the White House that are affecting our economies.

00:19But it was an introduction call.

00:22It was the first time that the prime minister of Canada, Prime Minister Carney and President

00:26Trayvon Martin were talking and we're both very important trading partners.

00:33Mexico is the second biggest trading partner to Canada, but also we're part of the USMCA,

00:38this trade agreement that is also so key right now and that we need to see whether we can

00:43continue to work on to keep it strong.

00:47And this is certainly a message that we wanted to make sure that the Mexican government heard

00:51from their Canadian friends.

00:55As you know, the Prime Minister Carney, he warned that the old US relationship that Canada

00:59had with the US is over, stating, quote, the US is no longer a reliable partner.

01:06I wonder, what does that mean exactly?

01:09How will the trading relationship change between the US and Canada, but also the defense partnership?

01:17Well, we didn't launch a trade war against the US.

01:21The US decided to put 25 percent tariffs against all our products in their first executive

01:28order, then went after us by putting 25 percent tariffs on our steel and aluminum, then went

01:33after us putting 25 percent on our auto sector.

01:37And now we're looking at potentially being vulnerable to reciprocal tariffs.

01:43Meanwhile, we wanted to make sure that we were sending a clear message that we were

01:48retaliating.

01:49And at this point, we've put $60 billion worth of tariffs against products in Canada.

01:55And also, we have $100 billion more of potential counter tariffs against the US, so on American

02:03products in Canada.

02:04Canada is the biggest client of the US.

02:06Jim, you've asked me that question in the past.

02:09You know, when you're in business, and I know many people watching us right now are in the

02:12business sector, you treat your client, your best client well.

02:16And so our goal is to make sure that we end this trade war, that we get to a common understanding

02:23that this is hurting our Canadians and Americans, their wallets, and nobody's winning from it.

02:33But at the same time, of course, we want to make sure that we work with the White House.

02:37Of course, we want to make sure that we find an off-ramp.

02:41Of course, we're willing to have discussions.

02:44And that's my goal, working with Marco Rubio.

02:46But also, this is the goal of the Prime Minister, talking to the President, and as well the

02:52Secretary of Commerce and the Minister of International Trade here in Canada.

Canadian Foreign Minister Joly Discusses U.S.-Canada Trade War Due To Trump Tariffs

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