Canadian Premier Says He’s Willing To Remove Tariffs ‘Tomorrow’ If Trump Backs Down

Ontario Premier Doug Ford said Canada is willing to remove all tariffs currently imposed on the United States if the Donald Trump administration backs down on its own measures, set to be announced on Wednesday in what he has described as “Liberation Day.”

Speaking with CNBC, Ford criticized the tariffs, saying that they are having the opposite effect to the one Trump intends. “He believes he is supporting Americans. He said they’re going to create jobs, wealth, reduce inflation. It has worked in the total opposite way,” Ford said.

Ford went on to say that Canada would drop all its tariffs if Trump backs down. Asked if the U.S. president is aware of the offer, Ford said “he knows” and Commerce Secretary Howard Lutnick knows too. However, he clarified that Canada has “another $65 billion worth of tariffs we are prepared to launch today,” but said it’s the “last thing we want to do.”

Ford has been among the most vocal opponents of tariffs, vowing to counter them with harsh measure, including threatening with a 25% surcharge on electricity exports to U.S. customers. Ford ended up halting the surcharge after a conversation with Lutnick in early March. It followed an announcement by Trump saying he would double announced tariffs on steel and aluminum coming from the country, adding that tensions would only subside if Canada was absorbed by the United States.

The new leader of Canada’s ruling Liberal party, Mark Carney, has taken a confrontational stance toward the matter, vowing to win the trade war with Trump. After winning the party’s leadership contest, he said “in trade, as in hockey, Canada will win.” “We can’t let him succeed,” he added.

Other countries are also preparing their counter-measures. Bloomberg reported on Wednesday that the European Union is preparing a package of emergency measures to support parts of its economy that could be hit the hardest by Trump’s tariffs. Officials expect the rate to be between 10% and 25%, the outlet added.

Back at home, a new analysis is showing that lower-income Americans will be affected the most by the tariffs. Concretely, the analysis by the Yale Budget Lab concluded that the lowest income households could see their disposable income drop by 5.5% if other countries retaliate with 20% tariffs.

Figures are reduced as income grows, with the richest households seeing a potential 2.1% drop. However, that figure still amounts to $9,500 per household among the richest tenth of the population. No one would see their disposable income grow as a result of the tariffs, according to the analysis.