Canada hits back at US with counter-tariffs

 

 

Canada has slapped an additional $29.8 billion in counter-tariffs on steel and aluminum imports from the US in response to new tariffs imposed by the US. The counter-tariffs come as the trade war between the two countries escalates.

The Canadian government made the announcement after the US imposed a 25 per cent tariff on all steel and aluminum imports from Canada and other US trading partners on Wednesday. The new 25 per cent tariff imposed by Canada will take effect at 12:01 a.m. on Thursday, Finance Minister Dominic LeBlanc said. It will apply to $12.6 billion worth of steel products, $3 billion worth of aluminum products and $14.2 billion worth of products imported from the US, Finance Minister Dominic LeBlanc said. The minister also made it clear that they will not sit idly by in the face of the US action that unfairly targets their famous steel and aluminum industries.

Foreign Minister Melania Joly also said that the new tariffs announced by the US threaten the very existence of our country and that the fight against this absurdity will continue.