00:00We have been preparing for all eventualities ahead of the confirmation of US tariffs later
00:06today. Let me be clear with the House. A trade war is in nobody's interests, and the country
00:14deserves, and we will take, a calm, pragmatic approach. That is why constructive talks are
00:22progressing to agree a wider economic prosperity deal with the US. That is why we are working
00:28with all industries and sectors likely to be impacted. Our decisions will always be
00:34guided by our national interests, and that is why we have prepared for all eventualities,
00:41and we will rule nothing out. President Trump is in the process of trying to fundamentally
00:48restructure the US economy, and that means that our economy here needs to change dramatically
00:55as well. And as I made clear to President Trump in our call last week, I will reject
01:03all attempts to weaken Canada, all attempts to wear us down, to break us down, so that
01:10America can own us. That will never, ever happen. I want to take a step back today and
01:20talk about what building Canada strong means. At its core, it means an economy that creates
01:29good, high-paying jobs, grows incomes, an economy that's resilient and can withstand
01:35shocks from abroad. But it's more than that. What makes me a Liberal, what makes my colleagues
01:45Liberals, is an unwavering belief that an economy is only strong when it serves everyone.
01:54Because in society, people can slip through the cracks. They can be left behind. And that
02:02was the reality for far too many Canadians even before President Trump's tariffs, and
02:09now because of them, many more Canadians are at risk. So we need to act urgently,
02:17purposefully, and forcefully. Canadians need a fighter, yes, to stand up to the President,
02:25but also a fighter to protect your jobs and your businesses, and crucially, to build an
02:32economy that everyone can afford.
02:36And because of this collective experience of the last, well, almost 75 years, so many
02:43Europeans feel utterly disheartened by the announcement from the United States. Let me
02:50be clear. Europe did not start this confrontation. We think it is wrong. But my message to you
02:58today is that we have everything we need to protect our people and our prosperity. We
03:06have the largest single market in the world. We have the strength to negotiate. We have
03:11the power to push back.
03:13Tariffs are taxes that will be paid by the people. Tariffs are taxes for the Americans
03:18on their groceries and their medication. Tariffs will just fuel inflation, exactly the opposite
03:25of what we wanted to achieve. American factories will pay more for components that are produced
03:31in Europe. This will cost jobs. It will create a bureaucratic monster of new customs procedures.
03:40Europe holds a lot of cards, from trade to technology to the size of our market. But
03:48this strength is also built on our readiness to take firm countermeasures if necessary.
03:55All instruments are on the table. Our objective is a negotiated solution. But of course, if
04:02need be, we will protect our interests, our people and our companies. And I want to be
04:09very clear on the aim of our response. We think that this confrontation is in no one's
04:16interest. The flow of goods and services between us, the United States and Europe, is nearly
04:24balanced. Of course, we are willing to work on the trade balance of goods, as well as
04:30on the trade balance of services. This is the largest and most prosperous trade relation
04:37worldwide. We would all be better off if we could find a constructive solution.
04:45At the same time, it also has to be clear. Europe has not started this confrontation.
04:51We do not necessarily want to retaliate. But if it is necessary, we have a strong plan
04:58to retaliate and we will use it.
05:21It is not against Mexico, it is not against Canada, it is a policy of the United States
05:28to the whole world. Just as we are collaborating to prevent fentanyl from entering the United
05:35States and other drugs, particularly synthetic drugs, we want the United States to stop
05:42the entry of weapons from the United States to Mexico. That should never be suspended.
05:49Let's wait and see what the U.S. government's position will be on April 2.
05:55Let them know that we are prepared. We meet two or three times a week with the team to
06:05strengthen the different measures. What we want is to protect the people of Mexico and
06:10employment, essentially.
06:12Let's go further in Mexico. In that sense, the whole plan goes to Mexico.
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