×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Canada | US Trade

Canada Says it Will Impose Retaliatory Tariffs on US Imports

Friday, 07 August 2020 04:38 PM

TORONTO (AP) — Canada’s deputy prime minister said Friday that the country plans to impose $3.6 billion Canadian (US$2.69 billion) tariffs on U.S. imports in response to President Donald Trump saying the U.S. is reinstating a 10% import tax on Canadian aluminum.

Deputy Prime Minister Chrystia Freeland said the tariffs will match the U.S. ones dollar-for-dollar. Canada is considering imposing a tariff on dozens of products, including golf clubs, bicycles, refrigerators, washing machines, tripods, sports equipment like bats and hockey sticks and embossed aluminum cans for beverages.

Trump originally imposed the tariffs on aluminum imports in 2018. He then lifted them last year on Canadian and Mexican metals to smooth the way for the U.S.-Mexico-Canada Agreement, which replaced the North American Free Trade Agreement. The new pact took effect July 1 and was expected to bring stability to North American trade

The new tariff spat comes after the U.S. in 2018 imposed a 25% duty on steel and a 10% duty on aluminum. Canada responded with tariffs on hundreds of U.S. products such as ketchup, coffee, strawberry jam and whisky before the two countries dropped their efforts and agreed to the new North American free trade deal.

Trump said Thursday that he was re-implementing tariffs because there was a surge in aluminum exports from Canada to the U.S. in recent months, but industry organizations dispute that claim. Aluminum imports from Canada rose sharply from February to March but have since leveled off and dropped 2.6% from May to June, according to the Aluminum Association trade group.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Canada's deputy prime minister said Friday that the country plans to impose $3.6 billion Canadian (US$2.69 billion) tariffs on U.S. imports in response to President Donald Trump saying the U.S. is reinstating a 10% import tax on Canadian aluminum. Deputy Prime Minister...
Canada,US Trade
255
2020-38-07
Friday, 07 August 2020 04:38 PM
Newsmax Media, Inc.
More Articles
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved