Published: Sun, July 01, 2018
Global Media | By Jackie Banks

Canada announces final list of retaliatory tariffs

Canada announces final list of retaliatory tariffs

Steel coils lay in a yard at the ArcelorMittal Dofasco steel plant in Hamilton, Canada.

Canada's Liberal party government said last month it would retaliate after Trump moved against steel and aluminum imports from Canada and other nations, citing security grounds. "Stands with you", he said.

He says his company, Lakeside Packing, uses a special blend of dill, garlic and mustard oils, and real sugar. "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".

Lakeside Packing is a small, family-run pickle and condiment business in Harrow, Ontario - a speck of a town close to the U.S.

Retaliatory tariffs on C$16.6bn worth of USA products are due to come into effect on July.

About 6,000 jobs in Canada are at risk due to the United States tariffs, the CD Howe Institute has estimated.

The Canadian government has released the final list of goods from the United States to be targeted in retaliatory tariffs that take effect Sunday July 1 in response to US Section 232 tariffs on steel and aluminium imports.

"How long will this last?" The measures zeroed in on $16.6 billion worth of goods that included industrial products like steel and aluminum, as well as everyday items like ketchup, toilet paper, dishwasher detergent and playing cards.

Earlier in the day the federal government unveiled an updated list of USA products that are about to be slapped with tariffs while promising to spend up to $2 billion to protect steel, aluminum and manufacturing jobs on this side of the border in the wake of a burgeoning trade war with the U.S.

"But I think that the president also believes that there's extensive tariffs assessed on American products overseas".

"We've got no choice".

Trump "has concerns about the WTO", Mnuchin said on Friday on the Fox TV network.

The official list, by the way, is entitled "Countermeasures in Response to Unjustified Tariffs on Canadian Steel and Aluminum Products".

The tariffs have also triggered complaints against the U.S. to the World Trade Organisation (WTO).

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Many of the United States products were chosen for their political impact, rather than economic. The exports targeted by the European Union are worth about €2.8 billion annually, according to European Union officials.

Freeland said they are also prepared if Trump escalates the trade war.

Among the actions the chamber recommends are continuing to pursue the case through the World Trade Organization (WTO), trying to open new markets to Canadian goods beside the US and making concessions to the Americans on areas such as supply management in dairy.

"We support open and free trade". If Trump steps up his attacks on Canada's economy and imposes a tariff on automobiles as threatened, it would lead to "carmageddon", Flavio Volpe, president of the Automotive Parts Manufacturers Association, told a Commons committee hearing on Tuesday.

But there's nothing amusing about a trade war.

The US and Canada are among each other's biggest trade partners, exchanging almost US$700bn in goods and services a year ago.

In a news conference Friday, Bilous stressed that "illegal, protectionist" tariffs hurt people on both sides of the border.

The Canadian government also announced that it would make available upward of $2 billion in assistance to its steel and aluminum companies.

Overall, Ujczo said Canada's retaliatory tariffs have been baked into the White House's calculus for months.

The U.S. embassy in Ottawa said it had no immediate comment.

"We believe that cooperation is a better path forward than escalation", said Kent Bacus, the association's director of worldwide trade and market access. "There's no reason why we shouldn't continue to work closely together to grow our own and each other's economies".

Meanwhile, Canadians are overwhelmingly in favor of Friday's retaliatory tariffs.

The Americans have applied tariffs to Canadian softwood lumber, and are threatening to do so on autos.

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