“Tariffs and retaliation and sanctions are the most effective when you can devise policies that have the maximum impact on the counter party whose attention you are seeking to get, and do the minimal damage to yourself. So far, sanctions have been structured to avoid harming Canadian business interests. If we are truly determined to stand with Ukraine, if the stakes in this fight are as high as I believe them to be, we have to be honest with ourselves, I have to be honest with Canadians, that there could be some collateral damage in Canada and that's something that the G7 finance ministers discussed very early this morning. I cannot announce those additional measures today. We are discussing them, we are working with our partners and allies. We have suggested many things, as have our allies. We believe that the most effective thing to do is to work together to announce measures together and we will continue to do that.”
01 Mar 2022
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