Canada threatens retaliation on Trump tariffs
Source: The Hill
Canada's foreign minister vowed on Thursday to take "responsive measures" if the Trump administration imposes stiff tariffs on Canadian steel and aluminum products exported to the U.S.
Canadian Foreign Minister Chrystia Freeland said President Trump's announcement that he plans to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports as "absolutely unacceptable."
It is entirely inappropriate to view any trade with Canada as a national security threat to the United States," she said in a statement.
"We will always stand up for Canadian workers and Canadian businesses. Should restrictions be imposed on Canadian steel and aluminum products, Canada will take responsive measures to defend its trade interests and workers."
Read more: http://thehill.com/regulation/international/376336-canada-threatens-retaliation-on-trump-tariffs
YessirAtsaFact
(2,064 posts)Vinnie From Indy
(10,820 posts)Let Paul Ryan and Mitch McConnell feel the pain!
louis-t
(23,295 posts)Asshole.
Bernardo de La Paz
(49,002 posts)LiberalLovinLug
(14,173 posts)Bernardo de La Paz
(49,002 posts)C Moon
(12,213 posts)Impact
According to a 2005 review of existing research, all studies on the tariffs "find that the costs of the Safeguard Measures outweighed their benefits in terms of aggregate GDP and employment as well as having an important redistributive impact."
Steel production rose slightly during the period of the tariff. The protection of the steel industry in the United States may have had unintended consequences and perverse effects. A study from 2003 that was paid for by CITAC, a trade association of businesses that use raw materials, found that around 200,000 jobs were lost as a result.
International response
The tariffs ignited international controversy as well. Immediately after they were filed, the European Union announced that it would impose retaliatory tariffs on the United States, thus risking the start of a major trade war. To decide whether or not the steel tariffs were fair, a case was filed at the Dispute Settlement Body of the World Trade Organization (WTO). Japan, Korea, China, Taiwan, Switzerland, Brazil and others joined with similar cases.
roamer65
(36,745 posts)I hope it bankrupts every GD midwestern Repuke farmer.
nycbos
(6,034 posts)$320.1 billion in exports imports were $307.6 billion.
Bernardo de La Paz
(49,002 posts)justhanginon
(3,290 posts)They are truly a study in incompetency at every level. Imagine all the crap that has gone down that we don't even know about yet.
NurseJackie
(42,862 posts)safeinOhio
(32,683 posts)total jobs go down, other friendly countries vote against us at the UN and on and on.