Canadian's Push Back on Tariffs
From the Ag Information Network, I’m Bob Larson. Following through on his mandate that “no deal is better than a bad deal,” Canadian Prime Minister Mark Carney suspended U.S. trade negotiations and recalled his negotiators late Friday.
Carney addressed Canada on Saturday morning …
CARNEY … “We were not prepared to compromise Canada’s sovereignty or to undermine our key industries. We recognized from the start that America had changed. But a mutually beneficial trade agreement is possible, because I believe that people on both sides of our border want this relationship to work.”
The latest U.S. import tariff puts a 50% levy on about $20 billion worth of Canadian goods.
In response, Carney announced that Ottawa now intends to retaliate "dollar for dollar" against those U.S. tariffs, with Canadian measures taking effect right after the Labor Day weekend, on Tuesday, September 8th …
CARNEY … “Our response will be concentrated in sectors such as steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics. It will also include products currently subject to unjustified Section 232 and 338 tariffs. A focused response to protect and defend our industries and allow them to compete with U.S. products in the Canadian marketplace.”
Carney says trade is about building mutual strength. Canada has always worked towards these goals.
