Canada hits $13 billion of US goods with new tariffs

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Canada has retaliated against US steel and aluminum tariffs by slapping its own penalties on American exports.

The Canadian government confirmed Sunday that it has imposed tariffs on US exports worth 16.6 billion Canadian dollars ($12.5 billion).

More than 40 US steel products attract tariffs of 25%. A tax of 10% has been levied on over 80 other American items including toffee, maple syrup, coffee beans and strawberry jam.

The response from Canada is designed to be proportional, with the new taxes being based on the amount of steel and aluminum shipped last year from Canada to the United States.

US steel tariffs, which went into effect on June 1, are expected to be particularly painful for Canada. It was the largest exporter of steel to the United States by value last year, according to Wood Mackenzie.

http://money.cnn.com/2018/07/01/news/canada-us-tariffs-steel-aluminum/index.html

[Wellstone ruled]

1. Watch for layoffs at the

Ford,GM and Jeep plants,especially in the Windsor area.

[douglas9]

2. Canada Imposes Major New Tariffs on American Goods

Canada officially implemented tariffs on about $12.5 billion worth of US goods Sunday, the latest offensive in the growing trade battle between the United States and other major economic powers. US exports of steel and other metal products now face a 25-percent tax, while other products—such as milk, ketchup, beef, and yogurt—will be taxed at 10 percent.

The tariffs come in direct response to the Trump administration’s own tariffs on Canadian steel and aluminum, which have also affected Mexico, China, Turkey, India, and the European Union. Canadian officials first announced the new tariffs on Friday.

“We will not escalate, and we will not back down,” said Chrystia Freeland, Canada’s foreign minister. “It is a dollar-for-dollar response.”

Other countries have also slapped retaliatory tariffs on the United States, with the EU adding taxes on motorcycles, bourbon, and orange juice. On Monday, Harley-Davidson announced it would move some of its production overseas, citing the EU’s new tariffs on American-made motorcycles. The company’s announcement infuriated President Donald Trump:


https://www.motherjones.com/politics/2018/07/canada-imposes-massive-new-tariffs-on-american-goods/