Canada slaps retaliatory tariffs on US aluminum goods [View all]
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.
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