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Counter-measures covering several sectors come after Trump announced 50% tariffs on Canadian goods
Canada’s retaliatory tariffs on billions of dollars’ worth of American imports have come into effect, escalating a trade fight that has been marked by intensifying tensions between US president Donald Trump and Canadian prime minister Mark Carney.
The tariffs took effect at 12.01am on Tuesday, and range from 15% to 50% and apply to products covering $20bn in imports from the US. The measures target sectors including steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics – industries that have been most affected by US tariffs.
The retaliatory tariffs come “as a result of the United States’ decision to impose a 50% tariff on $20bn of Canadian goods effective August 22”, the Canadian government said.
If you can’t trust a treaty to hold over time/presidents, each fair deal must be immediately transactional.
The Trump deal was already worse than the previous one, a new one will need be even worse.
Why would they be?
Trump’s deal is bad because he’s economically illiterate and has chosen to follow the advice of a crackpot economist. That doesn’t mean every future US administration will share his priorities or approach to trade.
A subsequent government could quite reasonably decide that rebuilding a stable, mutually beneficial trading relationship with Canada is in the US interest.
Canada would be right to be suspicious and play hard to get at that point, and when that happens they’ll probably do quite well out of it.
They could, but at any time another president can tear that agreement up and start another trade war. That’s the whole issue — the US can no longer be trusted to adhere to agreements beyond 2/4 years.
Yeah totally, but it wont stop them from happening, it’ll just reframe the negotiations and the specifics they eventually land on.
And likely heavily in Canadas favour.