Canada initiates countermeasures in response to US tariffs
Courtesy: Jens Mahnke from Pexels
Canada will impose countermeasures (surtaxes) against C$16.6 billion in imports of steel, aluminium and other products from the United States beginning July 1, the nation’s national day. The decision follows feedback from Canadians through over 1,000 submissions during public consultations after US tariffs on imports from Canada were announced in May.
On May 31 this year, the United States announced tariffs on imports of certain steel and aluminium products from Canada at the rates of 25 per cent and 10 per cent respectively.
Canada’s department of finance released its full list of retaliatory tariffs against the United States on June 29.
Targeted consumer products include pillows, cushions and similar furnishings of cotton; quilts, eiderdowns, comforters and similar articles of textile material containing less than 85 per cent by weight of silk or silk waste; other bedding and similar articles.
These countermeasures will remain in place until the United States eliminates trade-restrictive measures against Canadian steel and aluminium products, the department said on its website. These will not apply to US goods that are in transit to Canada on the day on which these come into force. (DS)
Fibre2Fashion News Desk – India