Canada prepares to impose duties on US-made goods worth US$105 billion, Bloomberg reports
Pravda Ukraine
Canada has drawn up an initial list of US-made goods worth CAD 150 billion (about US$105 billion) that it will impose duties on if US President-elect Donald Trump decides to introduce tariffs on Canadian goods.
Source: Bloomberg with reference to data from an informed official
Details: The source stressed that this list is preliminary and will come into force only if the Trump administration takes the first step.
It was also noted that, depending on what the US does, additional tariffs from Canada could be added later.
However, the products on this initial list were not disclosed.
Background:
- Trump has threatened to impose 25% tariffs on Canadian goods and accused Ottawa of failing to resolve trade and immigration issues.
- The Trudeau-Trump talks were marked by Trump’s repeated jokes about Canada being the “51st state of the United States”. In particular, on 8 January, Trump posted maps depicting Canada as part of the United States.
- On 9 January, the media reported that the Canadian government was considering imposing tariffs on a wide range of US-made goods if Trump follows through on his threat to impose a 25% duty on Canadian imports.
- Canadian Ambassador to the United States Kirsten Gillman said that the country is ready to buy more goods from the United States, including its next fleet of submarines.
- Nonetheless, she stressed that such a move was being considered to calm US President-elect Donald Trump’s concerns about the trade deficit between the two countries.
- On 14 January, Trump announced that he would create a Foreign Revenue Service to collect revenue from the massive tariffs he has promised to impose.
Support UP or become our patron!