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Canada will fight U.S. President Donald Trump's “Liberation Day” tariffs with targeted countermeasures, Canadian Prime Minister Mark Carney said on Wednesday.

"It's essential to act with purpose and with force, and that's what we will do," he told reporters ahead of a cabinet meeting to discuss Canada's response.

U.S. President Donald Trump on Wednesday signed an executive order imposing global “reciprocal tariffs” Wednesday, but Canada is not included in the latest round of what could be the opening salvo of the biggest global trade war in almost a century.

A White House fact sheet released shortly after Trump announced the policy in the Rose Garden said existing tariffs on Canada and Mexico “remain in effect” — including exemptions — “and are unaffected by this order.”

The existing tariffs on Canada and Mexico were imposed on March 4 under the International Emergency Economic Powers Act (IEEPA), which Trump says allows him to use tariffs to address a national emergency — in this case, the flow of fentanyl in to the U.S.

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