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Tariffs would come into effect on July 1, according to the Minister of Foreign Affairs of Canada
OTTAWA.
Canada responded on Friday to US steel and aluminum tariffs promise to impose punitive measures for more than 16,600 million Canadian dollars ( 12 thousand 630 million dollars) and, moreover, will offer a package of aid of 2 billion Canadian dollars for industries and workers affected
The Minister of Foreign Affairs, Chrystia Freeland said at a press conference that tariffs would come into effect on July 1 that target primarily US steel and aluminum products, as well as foods such as coffee, ketchup and whiskey, according to a list published by Can Finance Adá department
The retaliation is known after General Motors warned that any tariff imposed by the United States on imported vehicles could cost jobs in the country, and after Treasurer, Steve Mnuchin, denied a report President Donald Trump wanted to remove Washington from the World Trade Organization ( WTO ).
The increase of the commercial tension between Canada and the United States and the reluctance of American companies to more tariffs, even for imported cars, put pressure on the White House who defended his protectionist position of the "First United States" since the arrival of Trump in January 2017. 19659005] Mnuchin lambasted on an information site Axios report that Trump often told his advisers that he wanted the United States to resign from the WTO, a move that could devastate global trade The report quotes people involved in talks with the president
Trump later stated that he has not yet considered withdrawing from the organization, even though the United States has been very mistreated by it. We will not continue the climb, but we will not back down, "said Freeland at a televised press conference at the Stelco Holdings Inc. plant in the steel town of Hamilton, Ontario. [19659009] These measures are intended to put pressure on Trump, focusing on the assets of states where his Republican party struggles to occupy congressional seats in the November legislative elections.
The Canadian announcement was made then that the largest automaker in the United States warned against excessively high tariffs, they could isolate US companies and destroy jobs.
The Trump government launched an investigation in May to find out whether ported vehicles represented a threat to national security.The White House has repeatedly threatened a 20% import duty on vehicles.
United States announced in late May tariffs on imports of steel and aluminum from the European Union, Mexico and Mexico. Canada, which come into effect on June 1, thus putting an end to the uncertainty surrounding possible exemptions and significantly increasing the risk of a trade war.
The tariffs targeting some of the allied countries closer to United States represented the final leg on the Trump agenda of "America First", which has blurred the financial markets and created the specter of a trade war that involves US, China and other leading economies of the world.
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