Monday, June 17, 2024

Canada to impose ‘dollar-for-dollar’ retaliatory tariffs on US goods

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Canadian Prime Minister Justin Trudeau has asserted his government will implement “dollar-for-dollar” retaliatory measures after US president Donald Trump announced new tariffs on imports of Canadian aluminum.

Canada and the United States have had bitter exchanges over tariffs imposed by the latter on steel and aluminum but most issues appeared to have been resolved with the new United States Mexico Canada regional free trade deal to replace the older NAFTA coming into existence this year.

However, Trump used the stage of an election rally in Ohio to announce that Washington will impose a 10% tariff on Canadian aluminum to which Trdeau replied in a tweet saying, “In response to the American tariffs announced today, Canada will impose countermeasures that will include dollar-for-dollar retaliatory tariffs.”

The Candian prime minister did not specify what shape and which sectors the countermeasures will impact. But his stand was mirrored by that of deputy prime minister Chrystia Freeland, who made the same point in a statement released by her office.

“”Canadian aluminum does not undermine US national security. Canadian aluminum strengthens US national security and has done so for decades through unparalleled co-operation between our two countries,” she added

The tariff war between the neighbouring nations comes as a repeat of events of 2018 when Canada had retaliated by imposing $ 16.6 billion worth of tariffs on American products entering the country.


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