Saturday 25 May 2019 ,
Saturday 25 May 2019 ,
Latest News
  • 13th span of Padma Bridge installed
  • PM opens 2nd Meghna, Gumti bridges to traffic
  • Confident AL working on to make party stronger
  • Vegetable prices go down, chicken, fish prices high
  • Modi to seek blessings from mother in Gujarat
1 July, 2018 00:00 00 AM
Print

Canada hits back at US with tariffs on metals, bourbon, orange juice

AFP

Canada hit back at the United States on Friday with retaliatory tariffs on American summertime essentials such as Florida orange juice, ketchup and Kentucky bourbon in its opening salvo in a trade war with President Donald Trump, reports AFP from Ottowa.

As temperatures and tensions increase, the measures targeting Can$16.6 billion (US$12.6 billion) in US steel, aluminum and consumer goods will take effect on Sunday, when Canadians celebrate a national holiday and just days before Americans

celebrate Independence Day amid a heatwave expected in both countries.

The tit-for-tat duties are a response to the punishing US steel and aluminum tariffs imposed at the start of June. Ottawa also unveiled Can$2 billion (US$1.5 billion) in aid for the two sectors and their 33,500 workers.

“Canada has no choice but to retaliate with a measured reciprocal dollar-for-dollar response,” said Foreign Minister Chrystia Freeland, making the announcement at a steel facility in Hamilton, Ontario where she was flanked by brawny workers in yellow hardhats.

“We will not escalate and we will not back down,” she added while noting that this trade action was the strongest Ottawa has taken since World War II. But she said the move was made with “regret” and “very much in sorrow, not in anger” against a close ally.

The list of more than 250 US goods subject to Canadian duties—including Florida juice, Wisconsin toilet paper or North Carolina gherkins, which are labor intensive to produce—aim to pressure Trump supporters key states in November’s US midterm elections.

They penaltiese will add 25 percent to the cost of US steel, and 10 percent to aluminum and consumer goods.

Canada and Mexico initially were exempted from the US metals tariffs—as was the European Union—but Trump allowed the duties to take effect June 1 after talks stalled to revamp the 1994 trilateral NAFTA.

 

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 50.5%
No 45.6%
No Comment 4.0%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
01020304
05060708091011
12131415161718
19202122232425
262728293031
More Business stories

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting