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The issue of tariffs has gained significant attention in Canada following months of warnings from U.S. President Donald Trump. Tariffs can have major economic consequences for businesses and consumers in both Canada and the United States. Experts predict higher prices and potential economic downturns if trade barriers remain in place.

The Canadian government has taken decisive action following new U.S. tariffs. Prime Minister Justin Trudeau announced immediate countermeasures after President Donald Trump imposed a 25 percent tariff on Canadian imports.

During a video address at the World Economic Forum in Davos, Donald Trump questioned the need for U.S. reliance on Canadian imports. His remarks included the possibility of imposing 25 percent tariffs on Canadian oil, gas, autos, and lumber. These statements have sparked concern about potential economic impacts on both countries.

Ontarians are set to receive $200 rebate cheques from the provincial government by late January or early February 2025. The initiative, announced by Premier Doug Ford, aims to ease the financial burden of rising living costs and the federal carbon tax.