tariffs

Thursday June 28, 2018

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday June 28, 2018

Trump’s tariffs will be more painful for Canada than the U.S., economist says

The Trump administration’s tariff threats have the potential to drive companies currently operating in Canada out of the country, the president of a Canadian automotive association said Tuesday.

June 14, 2018

The United States has already imposed tariffs on the steel and aluminum industries and has threatened to impose a 25 per cent levy on Canadian-made autos.

The tariffs could make Canadian-made products uncompetitive and add $6,000, $10,000 or more to the cost of a vehicle, said David Adams, president of Global Automakers of Canada, at an event sponsored by the Economics Club of Canada.

He said a nonautomotive company he knows has decided it can’t expand in the United States from Ottawa, because of the uncertainty, so it’s opening a U.S. office and the same could happen to automotive companies.

“The uncertainty effectively does the job of … driving more investment into the United States as the safe harbour,” Adams said.

June 13, 2018

The Trump administration hasn’t necessarily realized that the its tariffs will also hurt the United States, said MaryScott (Scotty) Greenwood, chief executive of the Canadian American Business Council — pointing to a recent announcement by Harley-Davidson.

A tariff war between the U.S. and many of its trade partners has already prompted the iconic American motorcycle company to move production of motorcycles bound for Europe overseas, blaming European Union tariffs it said would add an estimated $2,200 cost to the average bike. That prompted President Donald Trump — whose own tariffs prompted the EU moves — to accuse Harley of using tariffs as an excuse for moves already planned.

March 9, 2018

“It’s a very dangerous game we’re playing here, economically,” Greenwood said.

Prime Minister Justin Trudeau has announced Canada will impose $16.6 billion in retaliatory tariffs on U.S. products coming into Canada, which go into effect on Sunday.

But CIBC chief economist Avery Shenfeld said Tuesday the United States is far better equipped than Canada to withstand the use of tariffs as a “sledge hammer” in trade negotiations.

Some Americans will face higher costs on imported goods from Canada but U.S. producers will be at a smaller risk because their home market is so much bigger than ours, Shenfeld said during a panel discussion about NAFTA in Toronto. (Source: Toronto Star) 

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Tuesday June 26, 2018

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday June 26, 2018

Trudeau to visit three cities on Canada Day, skip Parliament Hill festivities

Justin Trudeau will skip Canada Day festivities on Parliament Hill this year.

March 28, 2017

Instead, the prime minister will be on the road, celebrating Canada’s 151st birthday in three cities in three different regions.

Trudeau is scheduled to visit Leamington, Ont., Regina and Dawson City, Yukon — all on July 1.

He will still put in an appearance on Parliament Hill but it will be via video from Leamington.

Spokesman Cameron Ahmad says Trudeau wants to spend Canada day with “Canadians and their families” in parts of the country he doesn’t often get a chance to visit.

June 1, 2018

But in at least two of the three cities, the tour seems designed to reflect the looming trade war between Canada and the United States.

Trudeau will meet steelworkers in Regina, who’ve been hard-hit by President Donald Trump’s imposition of crippling tariffs on steel and aluminum imports.

And in Leamington, he’ll be meeting workers at the French’s ketchup factory.

Ketchup is one of many U. S. goods upon which the Trudeau government intends to slap $16.6 billions worth of retaliatory tariffs, starting on July 1. The Leamington visit appears aimed at reminding Canadians they can still get made-in-Canada ketchup, on which no tariff will apply. (Source: CTV) 

 

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Friday June 15, 2018

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday June 15, 2018

‘It will be very difficult’: Ontario’s Doug Ford faces uphill battle amid NAFTA troubles, Trump’s tariffs

Doug Ford pledged to stand united with the federal government in its heated trade dispute with the United States as the beleaguered NAFTA talks become a “critical” issue for his new government.

April 20, 2018

“The stakes are high,” Ontario’s premier-designate told reporters following a meeting with auto and steel industry representatives Wednesday. “Thousands of jobs rely on the outcome of these talks. Thousands of Ontario families are counting on us to defend their interests.”

The U.S. struck out at Canada last month with tariffs of 25 per cent on steel and 10 per cent on aluminum. Hours later, Canada announced retaliatory tariffs on $16.6 billion of U.S.-made steel, aluminum and a range of other goods. Relations have been on a downward course since then, with Trump calling Prime Minister Justin Trudeau “weak and dishonest” in a Twitter post, apparently after he was angered by a G7 press conference in which Trudeau restated his objections to the U.S. Levies.

June 18, 2016

Ford said the “name-calling” was “not acceptable whatsoever.”

“I want to be very clear: we stand shoulder to shoulder with our federal counterparts,” he said.

As the Canada-U.S. dispute deepens, analysts say Ford will have his work cut out for him as he strives to deliver on his campaign promises amid weakened provincial finances and an increasingly uncertain business environment. (Source: Financial Post) 

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Friday June 1, 2018

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday June 1, 2018

Canada responds to U.S. steel, aluminum tariffs with ‘countermeasures’ of its own

Canada is imposing dollar-for-dollar tariff “countermeasures” on up to $16.6 billion worth of U.S. imports in response to the American decision to make good on its threat of similar tariffs against Canadian-made steel and aluminum.

June 1, 2013

The tariffs, which apply to a long list of U.S. products that includes everything from flat-rolled steel to playing cards and felt-tipped pens, will go into effect July 1, Foreign Affairs Minister Chrystia Freeland told a news conference Thursday.

“This is $16.6 billion of retaliation,” Freeland said.

“This is the strongest trade action Canada has taken in the post-war era. This is a very strong response, it is a proportionate response, it is perfectly reciprocal. This is a very strong Canadian action in response to a very bad U.S. decision.”

December 8, 2017

Freeland made the announcement alongside Prime Minister Justin Trudeau following word from the White House that the U.S. will slap tariffs on Canadian, Mexican and European Union steel and aluminium as of midnight Thursday night.

She called the U.S. measures illegal and counterproductive, and both she and Trudeau expressed how hard it is to imagine how Canada could ever be a national-security threat to an ally as close and important as the United States.

“That Canada could be considered a national-security threat to the United States is inconceivable,” said Trudeau, adding that the people of the U.S. are not Canada’s target , and that the federal government would far prefer that its hand not be forced.

October 10, 2015

Canada, Mexico and Europe had been exempted from import duties of 25 per cent on steel and 10 per cent on aluminum when they were first imposed in March, but those exemptions will expire as scheduled on Friday.

“The government of Canada is confident that shared values, geography and common interests will ultimately overcome protectionism,” Trudeau said.

“We will always protect Canadian workers and Canadian interests.”

Commerce Secretary Wilbur Ross confirmed Thursday that the United States would end the temporary exemption on Canadian, Mexican and European Union steel and aluminum as of midnight, as scheduled.

That means that President Donald Trump will be face to face with a number of leaders who have taken retaliatory action against the U.S. when he makes his closely watched Canadian debut at the G7 next week in Quebec. (Source: CP) 

 

Friday June 1, 2018

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday June 1, 2018

Canada responds to U.S. steel, aluminum tariffs with ‘countermeasures’ of its own

Canada is imposing dollar-for-dollar tariff “countermeasures” on up to $16.6 billion worth of U.S. imports in response to the American decision to make good on its threat of similar tariffs against Canadian-made steel and aluminum.

April 10, 2018

The tariffs, which apply to a long list of U.S. products that includes everything from flat-rolled steel to playing cards and felt-tipped pens, will go into effect July 1, Foreign Affairs Minister Chrystia Freeland told a news conference Thursday.

“This is $16.6 billion of retaliation,” Freeland said.

“This is the strongest trade action Canada has taken in the post-war era. This is a very strong response, it is a proportionate response, it is perfectly reciprocal. This is a very strong Canadian action in response to a very bad U.S. decision.”

March 9, 2018

Freeland made the announcement alongside Prime Minister Justin Trudeau following word from the White House that the U.S. will slap tariffs on Canadian, Mexican and European Union steel and aluminium as of midnight Thursday night.

She called the U.S. measures illegal and counterproductive, and both she and Trudeau expressed how hard it is to imagine how Canada could ever be a national-security threat to an ally as close and important as the United States.

“That Canada could be considered a national-security threat to the United States is inconceivable,” said Trudeau, adding that the people of the U.S. are not Canada’s target , and that the federal government would far prefer that its hand not be forced.

March 3, 2018

Canada, Mexico and Europe had been exempted from import duties of 25 per cent on steel and 10 per cent on aluminum when they were first imposed in March, but those exemptions will expire as scheduled on Friday.

“The government of Canada is confident that shared values, geography and common interests will ultimately overcome protectionism,” Trudeau said.

“We will always protect Canadian workers and Canadian interests.”

Commerce Secretary Wilbur Ross confirmed Thursday that the United States would end the temporary exemption on Canadian, Mexican and European Union steel and aluminum as of midnight, as scheduled.

That means that President Donald Trump will be face to face with a number of leaders who have taken retaliatory action against the U.S. when he makes his closely watched Canadian debut at the G7 next week in Quebec. (Source: CP) 

 

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