Sunday, 21 October, 2018


Canada Imposes Major New Tariffs on American Goods

Canada Imposes Major New Tariffs on American Goods Canada Imposes Major New Tariffs on American Goods
Bennie Garza | 03 July, 2018, 04:45

Canadian Prime Minister Justin Trudeau's office said in a statement that the prime minister "had no choice but to announce reciprocal countermeasures to the steel and aluminum tariffs that the United States imposed on June 1, 2018". For example, one campaign says SC will have $3 billion worth of exports targeted by retaliatory tariffs.

If the USA moved forward with tariffs on auto imports, it would be a blow to Canada's economy because of the critical nature that the auto industry plays in the country.

While Canada is subject to a 25% tariff on steel and a 10% tariff on aluminum, the USA neighbor to the North retaliated with tariffs on a slew of US steel and aluminum products.

"Donald Trump has declared war on Canada and we have absolutely no choice but to retaliate", he told CTV News Channel.

Trump and Trudeau spoke by phone late Friday after Canada announced it would impose its own tariffs in retaliation for the USA tariffs on steel and aluminum imports.

"Canada's workers build the roads and bridges that get us to work on time and back home again", Trudeau stated in his address. The U.S. Commerce Department is expected to hold hearings on auto tariffs in late July and to complete its investigation into auto imports later this summer. "Corporations, as well as our members, don't know what the next move is because we're convinced that Donald Trump doesn't know what his next move is either". Canada is the United States' second-biggest trading partner in goods, just behind China. Ottawa also unveiled Can$2 billion (US$1.5 billion) in aid for the two sectors and their 33,500 workers.

"Clearly, I think after today, the ball's going to be in the US court and they'll just have several choices of paths they want to take and I'm hopeful the messages today are one's that indicate a constructive path", he said.

The president's decision to push back the NAFTA talks comes as the US and Canada have been engaged in a tit-for-tat trade dispute over Trump's tariffs on Canadian steel and aluminum.

Tom Donohue, president of the U.S. Chamber of Commerce, is launching a new campaign to oppose Trump's trade tariff policies. Asked about the timing of an agreement, Trump said: "I want to wait until after the election".

Trudeau and Trump spoke over the phone on June 29 where they talked about trade and several other topics.

"The two leaders agreed to stay in close touch on a way forward", it added.

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