Canada to unveil retaliatory tariffs on U.S. goods on Tuesday: CTV
Reuters
Published Sep 14, 2020 11:34AM ET
OTTAWA (Reuters) - Canada will announce on Tuesday that it is going ahead with a threat to slap retaliatory tariffs on U.S. goods after Washington said it would impose punitive measures on Canadian aluminum imports, CTV said on Monday.
Deputy Prime Minister Chrystia Freeland said last month that Ottawa would impose sanctions on C$3.6 billion ($2.7 billion) worth of U.S. aluminum and products containing aluminum. The measures would come into force by Sept 16, she added.
Canada promised to retaliate after U.S. President Donald Trump moved in August to reimpose 10% tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports. Canada denies any impropriety.
"Everyone in Canada understands aluminum from Canada is no threat to national security in the United States," Foreign Minister Francois-Philippe Champagne told reporters on Monday ahead of a cabinet retreat in Ottawa.
Champagne noted that Ottawa had slapped tariffs on a wide range of U.S. goods in 2018 after Washington imposed sanctions on Canadian aluminum and steel.
"It's a formula that we have already used and it's the formula that we'll use this time as well," he said. Freeland's office said it could not confirm an announcement would be made on Tuesday.
($1=1.3173 Canadian dollars)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.