Feds unveil counter-tariffs, offer metal and manufacturing industries up to $2B

30 June, 2018, 16:04 | Author: Natasha Holloway
  • Canada 'will not back down' over US metals tariffs

Canada announced retaliatory tariffs against the United States on Friday in response to the Trump administration's duties on Canadian steel and aluminum.

As temperatures and tensions increase, the measures targeting Can$16.6 billion ($12.6 billion) in U.S. steel, aluminum and consumer goods will take effect on Sunday, when Canadians celebrate a national holiday and just days before Americans celebrate Independence Day amid a heatwave expected in both countries.

The penalties will add 25 percent to the cost of USA steel, and 10 percent to aluminum and consumer goods.

Food and consumer items - everything from dishwashing liquid and powerboats to yogurt, ketchup and whiskey - will face 10 percent tariffs.

Many of the U.S. products were chosen for their political rather than economic impact.

The source, who declined to be identified because of the sensitivity of the situation, said Freeland will announce the aid and reveal a list of USA goods that Canada intends to subject to retaliatory tariffs.

A month later the trade turmoil continues, however, with Trump and his officials taking aim at Trudeau personally, as well as other Canadian industries over what the USA president calls unfair trade practices.

Foreign Affairs Minister Chrystia Freeland says the measures are in line with moves from the European Union and Mexico.

The source said the assistance - to be spread over several years - would be similar to an C$867 million five-year package offered to Canadian softwood lumber producers in 2017 after Washington imposed tariffs.

"This is a perfectly reciprocal action", Freeland said.

Higher tariffs would "lead to a smaller GM, a reduced presence at home and overseas for this iconic American company, and risk less - not more - USA jobs", the largest U.S. automaker said.

Mexico Sinks South Korea, Stay Perfect At 2018 World Cup
In its first Group F game, South Korea was unable to find the back of the net in a 1-0 loss to the group's co-leader in Sweden . However, that left them exposed at the back, where El Tri pounced on the counterattack on a few occasions.

"Any trade action is disruptive on both sides of the border", Freeland said. She said she is confident that "common sense" will prevail. "Having said that our approach from day one of the [North American Free Trade Agreement] negotiations has been to hope for the best but prepare for the worst".

The Trump administration has said the tariffs are necessary to protect the steel and aluminium industries, arguing that their success is vital to America's national security.

Through its strategic innovation fund, Ottawa is also offering up to $250 million in support in an effort to reinforce the competitiveness of Canadian manufacturers and strengthen the integration of Canada's steel and aluminum supply chain. For example, Canada imports just $3 million worth of yogurt from the US annually and most of it comes from one plant in Wisconsin, the home state of House Speaker Paul Ryan. Orders are up in anticipation of retaliatory Canadian tariffs on USA gherkins.

Ottawa also unveiled 2 billion dollars ($ 1.5 billion) in aid for the two sectors. A WTO official said Friday that the organisation has not heard from the United States about reconsidering its membership.

But relations between these two neighbors have plunged to their lowest in decades, reaching new depths at the recent Group of Seven summit when Trump abruptly rejected the joint statement and insulted Trudeau.

The support measures are meant to help Canadian firms manage the tariffs as well as innovate for the future, he said.

Trump has long criticised the WTO for allowing countries such as China to impose high tariffs on American goods such as cars even as its economy has matured, though as president he's stopped short of pledging to withdraw from the group.

Canadian Foreign Minister Chrystia Freeland gestures during a joint news conference on the closing of the seventh round of NAFTA talks in Mexico City, Mexico, March 5, 2018.

"I don't think we'll see any reaction from the Trump administration".

Bains, the economic development minister, said the support is aimed at helping firms adjust to the hard circumstances while enabling them to continue to innovate along the way. "If you want to change it you have to make serious proposals, but you don't just walk away", he said.

Recommended:

  • Sampaoli sure Argentina can find feet against France

    Sampaoli sure Argentina can find feet against France

    We don't trust Argentina to shut out France , nor do we expect Les Bleus to deny the South Americans the goals they covet dearly. He is the last Argentinean player to score against France , back in February 2009 in a friendly (2-0).
    Egypt and Saudi level at halftime after Salah strike, penalty

    Egypt and Saudi level at halftime after Salah strike, penalty

    "I just want to say that Egypt reached the World Cup after 28 years, some players here do not have the required experience". The veteran goalkeeper dived to his right and flicked his left hand up to push the shot onto the bar before it was cleared.
    Harry Kane thrills with hat trick in rout of Panama

    Harry Kane thrills with hat trick in rout of Panama

    The next tiebreaker is fair play - i.e. the amount of yellow and red cards accumulated by a team throughout the group stage. Kane joins Geoff Hurst and Gary Lineker as the only England players ever to score a World Cup hat-trick.
  • Swing-vote Justice Kennedy retires from US Supreme Court

    Swing-vote Justice Kennedy retires from US Supreme Court

    The Supreme Court judge was joined by his four conservative colleagues in voting along ideological grounds to uphold the order. With the news that conservative Justice Anthony Kennedy is to retire, a huge opportunity has landed in Donald Trump's lap.
    Brazil beat Serbia to book date with Mexico in round of 16

    Brazil beat Serbia to book date with Mexico in round of 16

    Neymar has huge pressure on his shoulders to deliver despite only returning from injury in the run-up to the World Cup . Mitrovic's shot had gone behind Alisson and was heading toward goal, but Silva got there in time to clear it away.
    Saudi Arabia take positives for Asian Cup after Russian Federation  exit

    Saudi Arabia take positives for Asian Cup after Russian Federation exit

    Uruguay have lost just one of their last nine World Cup group games, While in last six games they have won five out of them. Uruguay as a team weren't particularly impressive, either, as their play was often slow and lacking in spark or intensity.
  • Sanju leaked online day before worldwide release

    Sanju leaked online day before worldwide release

    Ranbir is accompanied by many fine actors, Paresh Rawal, Manisha Koirala, Anushka Sharma, Dia Mirza among others. Both the actors were playing their respective characters, Anushka being a biographer and Ranbir playing Sanju .
    First Baby: Mum thrilled her newborn has a special birthday buddy

    First Baby: Mum thrilled her newborn has a special birthday buddy

    It's the couple's first child together, and comes eight months after the 37 year old was sworn in as Prime Minister. New Zealand Prime Minister Jacinda Ardern has left hospital after giving birth to a baby girl.
    Saudi Arabia lifts ban on women drivers

    Saudi Arabia lifts ban on women drivers

    The number of new drivers remains low, as women with foreign permits were only able to convert them starting this month. Many Saudis celebrated on social media, but some reactions were derisive or expressed concern about the social impact.
  • Los Angeles Lakers under pressure to pull off Kawhi Leonard trade

    Los Angeles Lakers under pressure to pull off Kawhi Leonard trade

    My favorite part in this soap opera is that Gregg Popovich is doing everything he can to stiff-arm the Lakers. The Los Angeles Lakers are trying to acquire Kawhi Leonard , and they don't want to wait much longer.
    Real Madrid starlet Marco Asensio hints at potential Liverpool move

    Real Madrid starlet Marco Asensio hints at potential Liverpool move

    The tale looks like will follow the path of Van Dijk's transfer saga and is resulting into unsettlement in Liverpool's fan base.
    English bulldog Zsa Zsa wins World's Ugliest Dog title

    English bulldog Zsa Zsa wins World's Ugliest Dog title

    Most of the World's Ugliest Dog contestants are up for adoption and the event helps raise awareness of pet rescue and adoption. Last year's victor was a 125-pound (57-kilogram) gentle giant named Martha - a Neopolitan Mastiff with gas and a droopy face.


Popular

Photo of Geoffrey the Giraffe leaving Toys "R" Us store goes viral
The toy store chain announced in March they would be closing down and the few remaining stores are closing for good this week. Many long-time employees were hoping to retire at a place they called home.

FDA Approves GW Pharma's Epidiolex
Indeed, the FDA has been trying to crack down on CBD producers who make claims that their products can cure diseases like cancer. Common side effects include sleepiness, elevated liver enzymes, decreased appetite, diarrhea, rash, and weakness.

'Permit Patty' calls cops on girl selling water in San Francisco
Ettel was also set to be one of the subjects of a documentary called Lady Buds , a film about women in the cannabis industry. She then approached the mother and daughter and said that she politely, but sternly, asked them to keep it down.

Where are the best places to see the upcoming 'blood moon'?
The Strawberry Moon will spectacularly light up the night skies of Thursday, June 28, when it reaches its full moon phase. Saturn is at "opposition", meaning the planet and the sun are on opposite sides of the Earth, according to NASA .

Apple and Samsung settle their smartphone-design patent fight after seven years
Apple was originally awarded $1 billion in damages, but a series of appeals pushed the ruling all the way to the Supreme Court . Some of the specific features Apple feels Samsung stole include home screen app grids, tap to zoom, and "bounceback" scrolling.

Israel president asks Prince William to take 'message of peace' to Palestine
He is expected to tour the Western Wall, Muslim and Christian holy sites, and occupied Palestinian territories . The pair later watched the England-Panama World Cup match together.

Argentina's Lionel Messi looks 'stressed and unhappy' - Pablo Zabaleta
The players can listen to the manager - and they should also be able to express themselves about what they do not like from him.

President Trump: Harley-Davidson waves White Flag regarding tariffs
Harley-Davidson is an American company originally founded in Milwaukee, Wisconsin, by two friends working out of a backyard. White House press secretary Sarah Huckabee Sanders defended Trump's trade policies Monday during a press briefing.

Marin Cilic and Novak Djokovic set for Queen's final after semifinal wins
The Serb returned superbly to force a match point but the Croatian fended it off with some big-serving. He then served it out to love to claim his second title at Queen's.

Spider-Man: Homecoming Sequel Title Revealed by Tom Holland
I'm a little confused because, um, I died, so I don't really know how it all comes into play but... The upcoming MCU film stars Tom Holland , Marisa Tomei, Michael Keaton and Zendaya.