Canada will move forward this weekend with retaliatory tariffs on billions of USA goods in response to President TrumpDonald John TrumpCanadian prime minister commemorates victims of Maryland newspaper shooting Trump suggested to Macron that France should leave the European Union: report Maryland newspaper writer in emotional interview: "We need more than prayers" MORE's duties steel and aluminum imports. Canada announced billions of dollars in retaliatory tariffs against the us on Friday in a tit for tat response to the Trump administration's duties on Canadian steel and aluminum.
Senior officials from Canada are lobbying the Big Three U.S. vehicle makers to stave off the punitive measures and say they are considering all options, including providing financial aid.
Foreign Affairs Minister Chrystia Freeland, Employment Minister Patty Hajdu and Industry Minister Navdeep Bains will make the announcement during a visit to the Stelco plant in Hamilton, Ont. "Our approach is that we will not escalate, but equally, we will not back down", Freeland said. The list of more than 250 goods subject to Canadian duties include Florida orange juice, and Kentucky bourbon.
The levies will remain in effect until the U.S. eliminates its tariffs on Canadian steel and aluminium.
Ken Neumann, director in Canada for the United Steelworkers union, said the aid package, which includes loan assistance, should help companies, but the support for workers is more "modest". At an event on Friday, he said his new tariffs were bringing "billions of dollars" to the US.
"I've politely declined because I'm not happy with the direction of the American government and their constant attacks on our country", Mr. Watson said. Business people warned Canadian lawmakers this week that an escalation into an all-out trade war would be devastating to the Canadian economy, which sends about 75 percent of its exports to the US. "We will be pushing the federal government to ensure that our industry and businesses are supported first and foremost through this steel tariff dispute".
Freeland, asked whether she feared the U.S. would escalate matters, recalled a public comment she made right before the start of NAFTA negotiations - another tough Canada-U.S. trade file - in which she told Canadians the federal government expected "moments of drama in this process".
Trump himself has already threatened to put tariffs on the automotive sector, which could prove far worse for the Canadian economy than the steel and aluminum duties.
The tit-for-tat duties are a response to the punishing USA steel and aluminum tariffs imposed at the start of June.
Previous Fourth of July parties organized by the U.S. Embassy in Ottawa have attracted almost 4,000 guests, according to its official website.
The federal government is offering big spending measures to help the Canadian steel, aluminum, and manufacturing industries weather the storm of the new American tariffs.
Bains said the support is aimed at helping firms adjust to the hard circumstances while enabling them to continue to innovate along the way. Freeland took note, saying this was "self-evident".
Canadian steel is used in American tanks, and Canadian aluminium is used in American planes.
The Canadian tariffs are created to hit products like steel and bourbon from states like OH and Kentucky that heavily favored Trump in the presidential election.