In response to the special American special rates for steel and aluminum, Canada has compiled its own billion dollar package. The retaliation measure is intended to include against -Tariffs with a value of 19 billion euros. At the same time, the Canadian government calls for the trade war to moderate.
“American factories were able to hire their business within a few days,” announced the Canadian minister of industrial Francois Philippe Champagne during a press conference. Finance Minister Dominic Leblanc said that Canada -Tariffs of Canada enter into force at midnight.
About half of Canada’s counter ariffs are eliminated on steel and aluminum products and the rest of other American goods such as computers, sports equipment and cast -iron products.
Canada is the largest supplier of foreign steel and aluminum of the US. Trump initially threatened Canada to even double the rates of the neighboring country to 50 percent. Later, however, he withdrew when the head of the Government of the Canadian province of Ontario, Doug Ford, agreed to give a surcharge of 25 percent to electricity supplies to the US states of Minnesota, Michigan and New York.
Nothing will put an end to the allowances that were already introduced by US President Trump until the indigenous production is strengthened, the American Minister of Handard Lutnick told Fox Business.
Trump -Strategy raises questions
Since he took over again in January, Trump has covered countless countries with rates or threatens it. He suffers from the trade shortages of his country, wants to persuade companies to invest in the United States and to guarantee more protection on American borders. In the case of Canada, he repeatedly flirted with wanting to annex the country.
Recently the concern had arisen at Wall Street, the Republican could exaggerate and possibly even the largest economy in the world into a recession. The renowned “Wall Street Journal” spoke about the “stupidest trade war of all time”.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
