Conservative Leader Pierre Poilievre unveiled his economic plan to respond to President Trump's tariffs during a press conference in Toronto on Wednesday morning.

Poilievre began his speech by condemning Trump's tariffs, saying they will be destructive not only for Canada but for the U.S. as well. The Conservative leader also denounced the president's suggestion that Canada will become the 51st state.

"One, these tariffs are unjustified. Two, they will hurt people and businesses on both sides of the border. And three, Canada will obviously never be the 51st state," he said.

Poilievre announced that in the short term to protect Canadian jobs, a Conservative government would launch a targeted, temporary loan program for businesses directly impacted by President Trump's tariffs.

Pierre Poilievre announces he will launch a targeted, temporary loan program for businesses directly impacted by President Trump's tariffs.

The Conservative leader says he will also seek to renegotiate the Canada-United States-Mexico Agreement on day one. pic.twitter.com/p8DLo38BYY

— Rebel News (@RebelNewsOnline) April 2, 2025

The Conservative leader went on to say that he would impose immediate, targeted reciprocal tariffs on U.S. goods that Canada doesn't need.

"First, our immediate response must be targeted, reciprocal tariffs. Targeted narrowly at those American goods we don't need, can make ourselves, or buy elsewhere," he said.

Poilievre also stressed the need to create long-lasting solutions for Canada's economy so that it is never again vulnerable to this kind of economic pressure.

"We need a long-term plan to build our economic fortress in Canada so we are never vulnerable to these kinds of threats again," he said.

Poilievre further declared that revenue gained from potentially expanding trade with the U.S. would be used by a Conservative government to "rebuild our military" so Canada is "a truly sovereign nation with a strong armed forces that can protect us."

President Trump is expected to announce a slew of tariffs, including some targeting Canada, today at 4pm EST from the White House on what he has deemed "Liberation Day."

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