Sunday, 22 July, 2018

Canada announces billions in retaliatory tariffs against US

Canada retaliates against US trade policies with tariffs on nearly $13 billion in US imports Canada announces billions in retaliatory tariffs against US
Lindsey Cook | 30 June, 2018, 16:04

Canada will move forward this weekend with retaliatory tariffs on billions of USA goods in response to President TrumpDonald John TrumpCanadian prime minister commemorates victims of Maryland newspaper shooting Trump suggested to Macron that France should leave the European Union: report Maryland newspaper writer in emotional interview: "We need more than prayers" MORE's duties steel and aluminum imports.

The federal Liberal government is taking its cross-border trade dispute with the United States up a notch, unveiling an extensive final list of $16.6-billion worth of American imports that will be hit with retaliatory tariffs this weekend.

She also said Canada was in discussions with Mexico and allies in Europe, which have also retaliated against the United States imposition in June of 10 percent tariffs on aluminum and 25 percent on steel.

Foreign Affairs Minister Chrystia Freeland unveiled the details - including a finished list of the targeted USA products - during a news conference at a steel factory in Hamilton.

Donald Trump at an event to mark the sixth-month anniversary of the Tax Cuts and Jobs Act, saying tariffs are bringing "billions of dollars" to the US. "I don't want to show up to something that I don't feel comfortable with from a principle point of view of seeing what's happening with these constant threats to our steel industry, aluminum, our auto industry, the dairy industry, and I've sent my regrets".

"The tariffs introduced by the United States on Canadian steel and aluminum are protectionist and illegal under WTO and NAFTA rules, the very rules that the United States helped to write", Freeland said.

"We support our federal government's retaliatory tariffs in response to the USA administration's illegal protectionist actions", he told reporters on a conference call Friday.

Trudeau also spoke to Mexican President Enrique Pena Neito and updated him on Canada's response to the U.S tariffs.

There are fears, however, that Canadian tariffs - some of which target businesses in states that are important to Trump and his supporters - could lead to fresh trade action from the U.S. That threat could be a negotiating ploy to restart talks on the North American Free Trade Agreement.

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Freeland said such tariffs would be "absurd" because the North American auto industry is highly integrated and parts made in Canada often go to cars manufactured in the US and then sold back to Canadians.

"We believe that cooperation is a better path forward than escalation", said Kent Bacus, the association's director of global trade and market access. "I think all of us, at this point, fully anticipate there will be some moments of drama in the future".

TORONTO - Canada announced billions of dollars in retaliatory tariffs against the us on Friday in a tit-for-tat response to the Trump administration's duties on Canadian steel and aluminum. "If you want to change it you have to make serious proposals, but you don't just walk away", he said. Bains, the economic development minister, said Friday that the feds are consulting with industry so even more can be done to address the diversion and dumping of aluminum and steel in the Canadian market.

The Trudeau government's decision to stand up to Trump with retaliatory measures has attracted wide support in Canada.

Senior officials from Canada are lobbying the Big Three U.S. vehicle makers to stave off the punitive measures and say they are considering all options, including providing financial aid.

For the latest dispute, the government intends to help affected workers by extending the duration of work-sharing agreements under the employment insurance program by an additional 38 weeks.

Ottawa is also promising to boost funding for the provinces and territories to increase job and training programs, and to provide liquidity support for impacted businesses.

The funding will feature new grants.

Business executives warned lawmakers this week that escalation into an all-out trade war would be devastating to the Canadian economy, which sends about 75 percent of its exports to the United States. They've given the president a long leash and will continue to do so.

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