Trump unimpressed
Canada and China threaten the USA with counter-tariffs
The trade dispute between the USA and Canada and China continues to escalate. In response to the punitive tariffs imposed by Washington, Prime Minister Justin Trudeau has now announced countermeasures of the same magnitude. The Chinese government is imposing punitive tariffs on chicken, wheat, corn and cotton from the USA.
Now that US President Donald Trump is sticking to the announced tariffs of 25 percent on goods from Canada and Mexico ("no leeway"), resistance is mounting.
Trudeau: punitive tariffs of 25 percent
Canada's Prime Minister Justin Trudeau has announced countermeasures of the same magnitude shortly before far-reaching US punitive tariffs against his country come into force. He announced that his country would introduce tariffs of 25 percent on US goods - initially only on goods with a total value of 30 billion dollars - from one minute after midnight (6.01 a.m. CET).
Stop of oil exports possible
After 21 days, the volume is to be increased to a total of 155 billion dollars. And Trudeau is also threatening: "If the US tariffs are not halted, we are in active and ongoing discussions with provinces and territories to take several non-tariff measures." This could presumably mean restricting or even stopping oil exports to the USA - a measure that would hit the United States hard.
China imposes tariffs on US agricultural products
In China, punitive tariffs of 15 percent are to be imposed on American goods such as chicken, wheat, corn and cotton. Imports of millet, soybeans, pork, beef, fishery products, fruit, vegetables and dairy products will be subject to tariffs of ten percent.
"Cooperation weakened"
This is being done because the US government is undermining the "multilateral system of global trade" with its "unilateral approach" and weakening "the foundations of economic and trade cooperation between China and the US", explained the Department of Commerce.
Trump had ordered import tariffs of 20 percent on goods from China - in addition to the previous tariffs, more than twice as much as before and effective since midnight. China had already responded to the tariffs in February with counter-tariffs of 15 percent, for example on coal and liquefied natural gas.
Fentanyl smuggling as a reason for tariffs
Trump, for his part, justified the doubling of the tariff rate by saying that the drug fentanyl, which is produced in China, was still being smuggled into the USA.
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