Canadian government has finalised $12.6 billion tariffs on US goods. Foreign Minister Chrystia Freeland announced these tariffs on Friday, which will take effect from July 1.
Freeland said that the money will be spend to support companies and workers hurt by U.S. levies on Canadian steel and aluminum exports.
“The tariffs mirror the value of those imposed by President Donald Trump’s administration. Canada will apply a 25 percent tariff on steel products, and 10 percent on aluminum and consumer goods. The levies will remain in effect until the U.S. eliminates its tariffs on Canadian steel and aluminum.” reported Newsmax on 3 July 2018.
“We will not escalate, and we will not back down,” Freeland told reporters at a steel mill in Hamilton, Ontario. “We are acting in very close collaboration with our like-minded partners in the European Union and Mexico.” She also reiterated the U.S. measures are “illegal” and America has a trade surplus with Canada on iron and steel.
“The Americans have applied tariffs to Canadian softwood lumber, and are threatening to do so on autos. The latter move is seen as a major threat to Canadian growth and to the North American auto sector, since U.S. carmakers rely heavily on supply chains that include its two neighbors.” reported Newsmax.
