Trade War: Canada Retaliates

Tariffs on $12.8 Billion of U.S. Goods

Prime Minister Justin Trudeau retaliated swiftly against President Donald Trump’s metals tariffs by imposing his own levies on as much as C$16.6 billion ($12.8 billion) of U.S. imports in what Canada calls its strongest trade action since the Second World War.

Trudeau invoked decades of battles fought alongside the U.S. and defending North American airspace as proof the U.S. tariffs based on a national security investigation are “unacceptable” and “punitive.” The Canadian tariffs of 25 percent on steel and 10 percent on aluminum will aim to match U.S. penalties on a dollar-for-dollar basis, based on export values, according to Foreign Affairs Minister Chrystia Freeland.

https://www.bloomberg.com/

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