Freeland Promises Dollar-for-Dollar Response to US Tariffs

Chrystia Freeland has announced her candidacy to lead Canada's Liberal Party following her resignation as finance minister, which played a role in Prime Minister Justin Trudeau's political decline. Freeland's campaign emphasizes a strong economic response to the potential imposition of 25% tariffs by U.S. President-elect Donald Trump, advocating for a 'dollar-for-dollar' retaliation. Meanwhile, Trudeau has pledged that Canada will respond to Trump's tariff threats without placing undue burden on any single region, as discussions about retaliatory measures progress among provincial leaders. Economic experts warn that such tariffs could trigger a recession and worsen the Canadian dollar's strength. As Canada grapples with these external pressures, the internal trade barriers also remain a topic of concern, with studies suggesting that resolving these could significantly boost the economy. The leadership race is set against a backdrop of declining public support for the Liberal Party and ongoing economic challenges.