For counter measures in the United States steel tariffs before the start of the grace period expires, not wait until things turn the Canadian government announced the official listing of a tax on American retaliation, as well as the support of the country's steel aluminum measures.
Local time on June 29, Canadian foreign minister freeland (ChrystiaFreeland) together with a number of related to the economic and trade ministers in Toronto, neighboring Hamilton steel industrial zone was announced to the media, from July 1, the gross, including steel, aluminum, c $16.6 billion ($12.6 billion) at the rate of the product to impose retaliatory tariffs.
Canada "will not intensify a trade war, but will not back down," friedland said. She said the U.S. tariff policy left Canada with no choice. The only real solution to this "unfortunate and unprecedented" dispute would be for the us to lift its steel and aluminium tariffs.
The Canadian federal government has described it as a "direct, prudent and reciprocal" response to us tariffs on steel and aluminium.
The United States has an annual trade surplus of $2 billion in steel products with Canada, according to Canadian officials. Fifty percent of U.S. steel exports go to Canada. Canadian steel and aluminum are used to make American tanks and aircraft. Canada's steel and aluminium industry makes North America's steel and aluminium industry more competitive globally, the Canadian side said. The us view of trade with Canada as a threat to us national security is "incredible and totally unacceptable".
The us announced on March 8 that it would impose a 25 per cent tariff on imports of steel and a 10 per cent tariff on imports of aluminium products based on the results of the "232 survey", but would temporarily exempt some economies. On May 31, US President Donald trump decided to end the exemption period and impose tariffs on imports of steel and aluminum from Canada, Mexico and the European Union from June 1. Canada immediately announced a reciprocal tax plan and asked the public for advice.
This time Canada decided to impose retaliatory tariffs on the us as scheduled. The official list increased or decreased slightly, but the total value remained unchanged. In addition to steel and aluminum products, the list includes american-made whiskey, lawn mower, coffee, tomato sauce, maple syrup, washing machines, freezers and pillows. Canada will have a long holiday after Friday. The tax list will take effect on July 1, Canada's federal day.
Meanwhile, the federal government of Canada announced a c $2 billion grant to support the steel and aluminum industry and the manufacturing sector. Including a series of measures, such as: increase security workers, promoting workers employment and training programs, increase on the domestic Labour market development, improve the steel supply chain, to help Canadian companies diversifying export channels, etc.
Canada's steel industry and aluminium industry will provide about 23,000 jobs and 10,500 jobs for canadians in 2017, according to official Canadian data. Canadian officials also said they would remain committed to the comprehensive and permanent elimination of "unreasonable and illegal" us tariffs. Friedland reiterated that he expected "dramatic moments in the future."