Canadians Rally Around Retaliatory Tariffs Aimed At The U.S.

Canada retaliates against US trade policies with tariffs on nearly $13 billion in US imports

Tensions are relatively high between the US and Canada as of late, however, after the Trump administration imposed tariffs on Canadian steel and aluminum, prompting Mr. Trudeau's government to introduce retaliatory tariffs scheduled to take effect on July 1.

These tariffs will target USA steel and aluminum products, in direct retaliation for the new US tariffs on raw steel and aluminum from Canada, as well as coffee, ketchup, whiskey, and other products.

President Donald Trump infuriated USA allies - from Canada to Mexico and the European Union - by imposing tariffs of 25 percent on imported steel and 10 percent on aluminum.

Canada will "not back down" in the face of new U.S. tariffs on steel and aluminium, according to the country's foreign minister. "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 vehicle industry, the dairy industry, and I've sent my regrets".

The tit-for-tat duties are a response to the punishing U.S. steel and aluminum tariffs imposed at the start of June.

"It is with regret that we take these countermeasures, but the USA tariffs leave Canada no choice but to defend our industries, our workers and our communities, and we will remain firm in doing so", she said. Orders are up in anticipation of retaliatory Canadian tariffs on US gherkins.

"These retaliatory tariffs underscore the complete hypocrisy that governs so much of the global trading system", he said in a statement, and "do great damage to the multilateral trading system". That threat could be a negotiating ploy to restart talks on the North American Free Trade Agreement.

Canada announced that it would be imposing tariffs on more than $12 billion American products.

The Trump administration imposed the steel and aluminum tariffs citing "national security" provisions of U.S. trade law, drawing a rebuke from allies who have fought alongside American soldiers in multiple wars. Business people warned Canadian lawmakers this week that an escalation into an all-out trade war would be devastating to the Canadian economy, which sends about 75 percent of its exports to the US.

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According to the Canadian Press, Trudeau will be skipping the Parliament Hill Canada Day festivities and will instead be hitting the road, making stops in two cities where the tariffs are set to impact major industries: a steel refinery in Regina, and a food processing plant in Leamington, Ont. once used by Heniz. "If you want to change it you have to make serious proposals, but you don't just walk away", he said. "I think all of us, at this point, fully anticipate there will be some moments of drama in the future".

Bilous acknowledged that both sides get hurt by tariffs but said countermeasures are a necessary step.

The Trudeau government's decision to stand up to Trump with retaliatory measures has attracted wide support in Canada.

To help businesses retain skilled workers, the duration of work-sharing agreements will be doubled under the employment insurance program to 76 weeks from 38 weeks.

The federal support package includes similar measures to those offered by Ottawa past year in response US duties on softwood lumber products from Canada. The product will now be hit with a 10 per cent duty.

For companies, Ottawa is promising up to $1.7 billion worth of financing and services for steel and aluminum industries through Business Development Bank of Canada and Export Development Canada.

Offering up to $250 million in new support through the Strategic Innovation Fund to help bolster the competitiveness of Canadian manufacturers and better integrate the Canadian supply chain of steel and aluminum.

Bains said the support is aimed at helping firms adjust to the hard circumstances while enabling them to continue to innovate along the way.

"We are acting in very close collaboration with our like-minded partners in the European Union and Mexico".

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