U.S. President Donald Trump threatens Canada with reciprocal tariffs

Canadian Prime Minister Justin Trudeau has fired back at U.S. tariffs, and President Trump was quick to respond to the leader of the country deemed one of America's closest partners.

Ahn Sung-jin reports.

Canada, Mexico, and China have been gearing up for retaliatory measures after U.S. President Donald Trump's tariff impositions began on March 4th, local time.

Trump cited the failure to hamper drug trafficking, especially fentanyl, into the U.S. as a major reason for the tariffs.

However, Canadian Prime Minister Justin Trudeau refuted the claim and said it is false to say that Canada was unwilling to help.

Canada immediately imposed 25 percent tariffs on 20 billion U.S. dollars worth of U.S. imports and will pursue several non-tariff measures as well.

"The United States launched a trade war against Canada, their closest partner and ally, their closest friend. But in the meantime, our tariffs will remain in place until the U.S. tariffs are withdrawn and not a moment sooner."

Trump immediately fired back.

He referred to Trudeau as "Governor Trudeau" and further added that retaliatory tariffs from Canada would only result in another round of immediate reciprocal tariffs increased by the same amount.

Mexico said the U.S. import taxes had no justification and pledged to give details on retaliatory measures during the weekend, vowing to respond with tariff and non-tariff measures.

"Nobody wins with this decision. On the contrary, it affects the people we represent."

China is also expected to levy "import taxes" of 10 to 15 percent on some U.S. goods, including American beef, dairy, and agricultural products starting from March 10th.

These retaliations came after Trump went forward with 25 percent tariff impositions on Canada and Mexico, as well as doubling tariffs on China to 20 percent.

Despite concerns that these tit-for-tat tariff levies would escalate into a global trade war, Trump seemed prepared to double down on these impositions.

"Other countries have used tariffs against us for decades, and now it's our turn to start using them against those other countries. Whatever they tax us, we will tax them."

During his address to Congress on Tuesday, consumer confidence fell and stocks declined.

As the U.S. will be levying tariffs on agricultural products as well, starting April 2nd, this could further startle the world economy and ignite tensions.

Ahn Sung-jin, Arirang News.