A Quick Look at the New Canada Tariffs on U.S. Products
This article was originally published on ETFTrends.com.
The tariff battle royal got more interesting now that Canada has decided to join the fray that has been seeing the United States, China and the European Union go at each other tariff-for-tariff.
Related: Trade Scuffle Deals a Blow to Canada ETF
The new tariffs on U.S. products come on Canada Day--a response to the duties imposed by U.S. President Donald Trump's administration on steel and aluminum imports from Canada. Prime Minister Justin Trudeau gave the green light for retaliatory tariffs on a mix of U.S. products totaling $12.6 billion--products include everything from ballpoint pens to industrial pipes.
“I’m not in a position to opine on motivations of the (U.S.) president,” said Prime Minister Trudeau. “I’m going to stay focused on the relationship that we’re building, on defending Canada’s interests."
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