Trump, 78, on Saturday,\u00a0signed an executive order to slap 25%<\/a>\u00a0across-the-board tariffs on America\u2019s northern neighbor, citing its failure to meet his demands on helping crack the fentanyl and illegal immigration trade.<\/p>\n \u201cCanada thrives when it works with America together. Win by helping America win. Trump believes that Canada has not held its side of the bargain,\u201d Tobi Lutke, who co-founded Shopify, wrote on X.<\/p>\n \u201cThese are things that every Canadian wants its government to do, too. These are not crazy demands, even if they came from an unpopular source. These tariffs are going to be devastating to so many people\u2019s lives and small businesses.\u201d<\/p>\n Lutke\u2019s withering critique came in response to a clip of Trudeau announcing 25% retaliatory tariffs on $107 billion worth of US goods and pushing for policies targeting red states.<\/p>\n Shopify, the e-commerce giant that Lutke co-founded in 2006 is worth about $150 billion. It\u2019s Canada\u2019s biggest tech company and biggest ever startup \u2014 and second only to the Royal Bank of Canada in size.<\/p>\n Lutke is worth an estimated $10 billion \u2014 and is one of Canada\u2019s richest people.<\/p>\n \u201cLeadership is about doing what\u2019s right, not what is popular. And hitting back will not lead to anything good. America will shrug it off. Canada will decline,\u201d Lutke added about Trudeau\u2019s planned retaliation.<\/p>\n \u201cIt\u2019s simply the wrong choice in a possibility space where much better options would have been available.\u201d<\/p>\n Trudeau has warned Canadians that tough times are ahead amid the simmering trade war with the US.<\/p>\n Canada was the America\u2019s biggest overall trading partner in 2023, with more than $900 billion in goods and services exchanged by the two countries.<\/p>\n Last year, the US imported some $377 billion worth of goods from Canada while exporting $322 billion,\u00a0according to data<\/a>\u00a0from the US Census Bureau.<\/p>\n The tariffs are poised to hit Canada especially hard because\u00a0roughly 75% of its exports<\/a>\u00a0go to the US while only about 13% of American exports go to Canada.<\/p>\n Trump\u2019s massive tariff against Canada also includes a lower 10% tariff rate on energy resources. For context, in 2023, Canadian crude oil exports accounted for about 24% of US refinery production,\u00a0according to data<\/a>\u00a0from the Energy Information Administration.<\/p>\n Trudeau, 53, who is poised to remain PM until his Liberal Party elects a new leader in March, had\u00a0jetted down<\/a>\u00a0to Mar-a-Lago last November to meet with Trump after the then-president-elect first issued the threat.<\/p>\n At the time, the outgoing Canadian leader attempted to make nice with Trump and dissuade him from following through on the tariff threat, which could wreak havoc on Canada\u2019s economy.<\/p>\n![\"Shopify](\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2025\/02\/2023-sun-valley-idaho-every-97762545.jpg?w=1024\")
3<\/span><\/span><\/span><\/a><\/div>![\"Canadian](\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2025\/02\/canadas-prime-minister-justin-trudeau-97746490.jpg?w=1024\")
3<\/span><\/span><\/span><\/a><\/div>
![\"President](\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2025\/02\/president-donald-trump-speaks-reporters-97681941_35815f.jpg?w=1024\")