Trudeau slams Trump for starting a trade war with Canada while appeasing Putin

Prime Minister Justin Trudeau holds a news conference on imposed U.S. tariffs in Ottawa on Tuesday, March 4, 2025. (AP)
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Updated 05 March 2025
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Trudeau slams Trump for starting a trade war with Canada while appeasing Putin

  • “I want to speak directly to one specific American, Donald,” Trudeau said
  • Trump has threatened Canada’s sovereignty, provoking anger in the country

TORONTO: Canadian Prime Minister Justin Trudeau on Tuesday called American tariffs “very dumb” and said that US President Donald Trump is appeasing Russia while launching a trade war against Canada.
In a blunt news conference during his final days in office, Trudeau said that Canada would plaster retaliatory tariffs on more than $100 billion of American goods in response to Trump’s 25 percent tariffs.
“Today the United States launched a trade war against Canada, their closest partner and ally, their closest friend. At the same, they are talking about working positively with Russia, appeasing Vladimir Putin, a lying, murderous dictator. Make that make sense,” a visibly angry Trudeau said.
Trump imposed tariffs against Washington’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin. Just after midnight, Trump put 25 percent taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10 percent on Canadian energy.
“What he wants to see is a total collapse of the Canadian economy because that will make it easier to annex us,” Trudeau said. “That is never going to happen. We will never be the 51st state.”
Trudeau addressed Trump directly by his first name.
“I want to speak directly to one specific American, Donald,” Trudeau said. “It’s not in my habit to agree with the Wall Street Journal, but Donald, they point out that even though you’re a very smart guy, this is a very dumb thing to do.”
Later Tuesday, US Commerce Secretary Howard Lutnick said the US would likely meet Canada and Mexico “in the middle,” with an announcement coming as soon as Wednesday.
Lutnick told Fox Business News that the tariffs would not be paused, but that Trump would reach a compromise.
“I think he’s going to figure out, you do more, and I’ll meet you in the middle in some way,” Lutnick said.
In a post on Truth Social earlier Tuesday, Trump said: “Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the US, our Reciprocal Tariff will immediately increase by a like amount!”
Trump has threatened Canada’s sovereignty, provoking anger in the country. Canadian hockey fans have been booing the American national anthem at recent NHL and NBA games. Trudeau channeled the betrayal that many Canadians are feeling.
“Canadians are hurt. Canadians are angry. We are going to choose to not go on vacation in Florida,” Trudeau said. “We are going to choose to try and buy Canadian products ... and yeah we’re probably going to keep booing the American anthem.”
The premier of Ontario, Canada’s most populous province, said that he would issue a 25 percent export tax on electricity sold to the US and may later cut it off completely if the American tariffs persist. Ontario powered 1.5 million homes in the US in 2023 in Michigan, New York and Minnesota.
Ontario Premier Doug Ford also told The Associated Press that he would stop the sale of nickel and rare minerals to the US
Ontario and other provinces already began removing American liquor brands from government store shelves. The Liquor Control Board of Ontario sells nearly $1 billion Canadian dollars ($687 million) worth of American wine, beer, spirits and seltzers every year.

 


US allows oil majors to broadly operate in Venezuela, new energy investments

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US allows oil majors to broadly operate in Venezuela, new energy investments

  • Treasury Department issues general license allowing Chevron, BP, Eni, Shell and Repsol to operate oil and gas operations in Venezuela
  • Move is the most significant relaxation of sanctions on Venezuela since US forces captured and removed President Nicolas Maduro
WASHINGTON: The US ​eased sanctions on Venezuela’s energy sector on Friday, issuing two general licenses that allow global energy companies to operate oil and gas projects in the OPEC member and for other companies to negotiate contracts to bring in fresh investments. The move was the most significant relaxation of sanctions on Venezuela since US forces captured and removed President Nicolas Maduro last month.
The Treasury Department’s Office of Foreign Assets Control issued a general license allowing Chevron, BP, Eni, Shell and Repsol to operate oil and gas operations in Venezuela. Those companies still have offices in the country and stakes in projects, and are among the main partners of state-run ‌company PDVSA.
The authorization ‌for the oil majors’ operations requires payments for royalties and Venezuelan ​taxes ‌to ⁠go through ​the US-controlled ⁠Foreign Government Deposit Fund.
The other license allows companies around the world to enter contracts with PDVSA for new investments in Venezuelan oil and gas. The contracts are contingent on separate permits from OFAC.
The authorization does not allow transactions with companies in Russia, Iran, or China or entities owned or controlled by joint ventures with people in those countries.
The licenses “invite American and other aligned companies to play a constructive role in supporting economic recovery and responsible investment, ” the US State Department said in a release. Additional authorizations may be issued “as necessary,” it said.
A spokesperson for Chevron, ⁠the only US oil firm currently operating in Venezuela, said the company welcomed ‌the new licenses.
“The new General Licenses, coupled with recent changes ‌in Venezuela’s Hydrocarbons Law, are important steps toward enabling the further development ​of Venezuela’s resources for its people and for advancing ‌regional energy security,” the spokesperson said in a statement.
Eni said it is assessing the opportunities in ‌Venezuela that the authorization opens up.

Oil law reform

The US licenses follow a sweeping reform of Venezuela’s main oil law approved last month, which grants autonomy for foreign oil and gas producers to operate, export and cash sale proceeds under existing joint ventures with PDVSA or through a new production-sharing contract model.
The US has had sanctions on Venezuela since ‌2019 when President Donald Trump imposed them during his first administration. Trump is now seeking $100 billion in investments by energy companies in Venezuela’s oil and gas sector. ⁠US Energy Secretary Chris Wright ⁠said on Thursday, during his second day of a trip to Venezuela, that oil sales from the country since Maduro’s capture have hit $1 billion and would hit another $5 billion in months.
Wright said the US will control the proceeds from the sales until Venezuela stands up a “representative government.” Since last month, the Treasury issued several other general licenses to facilitate oil exports, storage, imports and sales from Venezuela. It also authorized the provision of US goods, technology, software or services for the exploration, development or production of oil and gas in Venezuela.
The Venezuelan government expropriated assets of Exxon Mobil and ConocoPhillips in 2007 under then-President Hugo Chavez. The Trump administration is trying to get those companies to invest in Venezuela as well. At a meeting at the White House with Trump last month, Exxon Mobil CEO Darren Woods said Venezuela was “uninvestable” at ​the moment.
Wright said on Thursday that Exxon, ​which no longer has an office in Venezuela, is in talks with the government there and gathering data about the oil sector. Exxon did not immediately comment.