By Zoila Palma: The trade war between the United States and Canada escalated Tuesday after Canadian retaliatory tariffs of up to 50% on about 700 US products took effect, prompting the White House to announce plans to further restrict Canadian imports.
The proposed measures include a full ban on Canadian dairy products, restrictions on most alcoholic beverages and additional trade penalties if the dispute remains unresolved, Yahoo finance reports.
The Canadian tariffs, affecting roughly $20 billion worth of US goods, were introduced as a dollar-for-dollar response to tariffs imposed by US President Donald Trump.
The new Canadian duties range from 15% to 50% and cover products including clothing, wood products, appliances, cosmetics and farm equipment, while tariffs on American steel and aluminum have been doubled to 50%.
The White House said some Canadian dairy products and alcoholic beverages could be “excluded from importation into the United States” beginning September 29 if the stalemate continues. The administration said the measures would be carried out under presidential authority derived from Section 338 of the Tariff Act of 1930 and also announced plans to restrict Canadian products from US government contracts.
Canadian Prime Minister Mark Carney has defended the retaliatory measures, acknowledging that the trade war will bring economic pain but insisting Canada will stand firm. In a video released Tuesday, Carney said, “we will do whatever it takes for as long as it takes” rather than accept what he considers a bad deal with Washington.
Trump, meanwhile, has threatened further action, including possible restrictions on Canadian aerospace giant Bombardier and 50% tariffs on automobiles and auto parts later this year.
The post International News: US-Canada trade war escalates as tariffs trigger threats of import bans appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: The trade war between the United States and Canada escalated Tuesday after Canadian retaliatory tariffs of up to 50% on about 700 US products took effect, prompting the White House to announce plans to further restrict Canadian imports. The proposed measures include a full ban on Canadian dairy products, restrictions on most
The post International News: US-Canada trade war escalates as tariffs trigger threats of import bans appeared first on Belize News and Opinion on www.breakingbelizenews.com.
