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Fri Aug 7, 2020, 04:20 PM

Canada slaps retaliatory tariffs on US aluminum goods

Source: BBC World News

Canada has announced a C$3.6bn ($2.7bn, £2.1bn) tariff on US aluminium products a day after US President Donald Trump imposed a 10% tariff on some Canadian aluminium products. Canada and the US reached a deal last year to lift tariffs on steel and aluminium imports that had been imposed on grounds of "national security".

Mr Trump reintroduced them on Thursday to protect the US industry. Friday's retaliatory tariffs by Canada will go into effect on 16 September.

The countermeasure was announced after deputy prime minister Chrystia Freeland previously promised a "dollar-for-dollar" fight.

Canada's Chamber of Commerce said the "tariffs were the wrong instrument when they were first imposed in 2018, and they remain the wrong instrument now". National Foreign Trade Council, a US-based pro-trade group, called imposing the new measures a "misguided action", warning it could undermine the new free trade agreement between the US, Canada and Mexico, which came into force in July.

Read more: https://www.bbc.com/news/world-us-canada-53683569



IMO, Trump's tariffs are nothing more than a giveaway to American aluminum companies and their stockholders to buy votes. As usual, American families will pay the cost.

11 replies, 1245 views

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Always highlight: 10 newest replies | Replies posted after I mark a forum
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Arrow 11 replies Author Time Post
Reply Canada slaps retaliatory tariffs on US aluminum goods (Original post)
KY_EnviroGuy Aug 7 OP
SheltieLover Aug 7 #1
yonder Aug 7 #2
Wellstone ruled Aug 7 #3
BusyBeingBest Aug 7 #4
pandr32 Aug 7 #7
Initech Aug 7 #5
mitch96 Aug 7 #6
KY_EnviroGuy Aug 7 #11
safeinOhio Aug 7 #8
JustABozoOnThisBus Aug 7 #9
iluvtennis Aug 7 #10

Response to KY_EnviroGuy (Original post)

Fri Aug 7, 2020, 04:21 PM

1. Trumputin alienating allies again!

🤬

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Response to KY_EnviroGuy (Original post)

Fri Aug 7, 2020, 04:25 PM

2. That didn't take long.

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Response to KY_EnviroGuy (Original post)

Fri Aug 7, 2020, 04:28 PM

3. This will increase every

Aluminum necessary product to be increased price wise by a minimum of 10%. Ford Motor will take the biggest hit because of their Product Sourcing which happens to be Canada. You do not just switch suppliers in mid stream.

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Response to KY_EnviroGuy (Original post)

Fri Aug 7, 2020, 04:31 PM

4. There's so much unnecessarily stupid shit from this regime every day, you

can't keep up.

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Response to BusyBeingBest (Reply #4)

Fri Aug 7, 2020, 04:45 PM

7. I hear ya!

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Response to KY_EnviroGuy (Original post)

Fri Aug 7, 2020, 04:34 PM

5. MABA!!

Make America Broke Again!

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Response to KY_EnviroGuy (Original post)

Fri Aug 7, 2020, 04:39 PM

6. For me its follow the money... Who would benefit from blocking Aluminum from Canada

Who has a big interest in American Aluminum? Two people come to mind.. Derapaska and
McTurtle.. Derapaska just opened a BIG aluminum plant in Kentucky. This benefits McTurtle in his re election bid. Lots of shady things went on with the aluminum plant opening... Federal judge ship ok's by mitch. Judge is wife of one of McTurtles old legislator buddies and a lobbyist for Derapaska.
Hummmmmm....
m

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Response to mitch96 (Reply #6)

Fri Aug 7, 2020, 10:09 PM

11. My guess is buying votes for McConnell.

Two big Century plants in Western KY (and satellite processing plants around them) and the Braidy/Rusal plant in the works in Eastern KY.

I have not kept track of the current progress of the Braidy/Rusal project but this may shed some light:

Executive: Kentucky Aluminum Plant Project Still Needs $500M
A Braidy Industries executive says the company still needs to raise $500 million to build a $1.7 billion aluminum plant in eastern Kentucky.
By Associated Press, Wire Service Content Feb. 11, 2020, at 5:31 p.m.
via U.S. News & World Report
BRUCE SCHREINER, Associated Press

Link: https://www.usnews.com/news/best-states/kentucky/articles/2020-02-11/braidy-executives-give-update-on-plans-for-aluminum-plant

Excerpts:
FRANKFORT, Ky. (AP) — A company that promised a $1.7 billion aluminum plant in Appalachia still needs a $500 million cash infusion to do the job, the new CEO told Kentucky lawmakers Tuesday, following a corporate management shakeup.

Braidy Industries officials appeared before the Senate Appropriations and Revenue Committee following the recent ouster of Braidy's CEO, which raised new concerns about the prospects of the uniquely-structured project.

Kentucky taxpayers have a direct stake in Braidy’s plans to build the aluminum rolling mill near Ashland in northeastern Kentucky. During his term as governor, Republican Matt Bevin persuaded lawmakers to approve a $15 million state investment in the project. Even with that boost, the project struggled from the start to obtain the private capital it needed to get the project off the ground.

The state investment also sparked a legal fight over transparency, led by the Courier-Journal, which sought records detailing the company’s finances. Democratic Gov. Andy Beshear’s administration recently released those records, which Bevin’s administration had fought in court to withhold. Beshear defeated Bevin in last year’s election.


As you said, as always with Republicans, follow the money. I might add: follow the Russians too.

KY

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Response to KY_EnviroGuy (Original post)

Fri Aug 7, 2020, 05:27 PM

8. Free Market Republicans

found their leader.

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Response to KY_EnviroGuy (Original post)

Fri Aug 7, 2020, 05:52 PM

9. Ok, you idiots in Washington and Ottawa, this is dangerous.

This could affect the price of beer, you morons.

Knock it off.

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Response to KY_EnviroGuy (Original post)

Fri Aug 7, 2020, 07:45 PM

10. "As usual, American families will pay the cost." +++ agree. nt

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