Trudeau hits back at the U.S. with big tariffs

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Prime Minister Justin Trudeau announced late Saturday the federal government will hit back against the U.S. after President Donald Trump launched a trade war this weekend with punitive tariffs on all Canadian goods.

Trudeau said Canada won't stand for an attack from a country that was supposed to be an ally and friend.

Ottawa will immediately levy retaliatory tariffs on a whole host of American goods as payback for Trump's attempt to wreck the Canadian economy, Trudeau said.

To start, Canada will slap 25 per cent tariffs on $30 billion worth of American goods coming into Canada as of Tuesday. The tariffs will then be applied to another $125 billion worth of American imports in three weeks' time.

"We don't want to be here, we didn't ask for this, but we will not back down in standing up for Canadians," Trudeau said.