Canada Unleashes “Dollar-For-Dollar” Retaliatory Tariffs On US
by Tyler Durden
ZeroHedge.com
Thu, 05/31/2018
And so, the trade wars have begun…
In slightly more than a strongly-worded email Canadian PM Justin Turdeau exclaimed his indignance at the Trump administration’s decision to impose tariffs on Canadian steel and aluminum imports, saying it is an “affront”:
“Let me be clear, these tariffs are totally unacceptable,”
Trudeau said “Canada is a secure supplier” of metals to the U.S. military, and the idea of a security threat “is inconceivable.” He called the tariffs “punitive” noting that US has a $2billion steel trade surplus with Canada.
With that he announced retaliatory tariffs against the US.
Canadian Foreign Affairs Minister Chrystia Freeland announced “dollar-for-dollar tariffs for every dollar levied against Canadians by the U.S.,” starting July 1 that will remain in place as long as U.S. tariffs do.
The tariffs cover Whiskey, Orange Juice, and other food products as well as steel and aluminum.
Measures will apply to up to C$16.6 billion dollars of products. Canada is set to publish a list of tariffs – one set at 25% and one at 10%.
The Rest…HERE
