Steel and aluminum tariffs

[pfi572]

http://nationalpost.com/pmn/news-pm...-u-s-tariffs-with-its-own-countermeasures/amp

 

[52weekbreak]

No real surprise. Trump likes to follow up on his campaign rhetoric even if it never made any sense. Noe one knows trade better than Trump. Guess we will see how this goes.

 

[catalac]

Cbc reporting Canada hitting back hard!! Tariffs from canada on toilet paper and maple syrup.... lol frenchie letting them have it.

 

[SLEDBUNNYRACING]

My wife works at Alta-Steel in the manufacturing plant running cranes and testing steel (on the floor, not an office person).
I lot of their work is Canadian and international but they suspect this is gonna have a noticeable effect on their business.

 

[papajake]

ahole trudope gets all pissy when it affects eastern canada companies but could care less if the western provinces need help

 

[Summitric]

my wife works at alta-steel in the manufacturing plant running cranes and testing steel (on the floor, not an office person).
I lot of their work is canadian and international but they suspect this is gonna have a noticeable effect on their business.

they interviewed the ceo of alta-steel and he says over 25% of their business will be affected

 

[Summitric]

Justin Trudeau warned of a new turning point in Canada-U.S. relations while business leaders predicted dire economic consequences on both sides of the border Thursday as Donald Trump’s administration made good on its threat to impose crippling new tariffs on steel and aluminum imports.The decision, felt widely across North America and Europe, touched off a storm of criticism on both sides of the Atlantic.In the U.S., House Speaker Paul Ryan, who is not seeking re-election, said he disagrees with the decision. One of several Republicans to voice opposition, Ryan said the administration should not be targeting “America’s allies when we should be working with them to address the unfair trading practices of countries like China.”But the tariffs stung particularly in Canada, where Trudeau evoked the history of two countries fighting together from the beaches of Normandy to the mountains of Afghanistan.In his direct conversations with the U.S. president, Trudeau said, he stressed the “interconnectedness of the Canadian and American economies” and the dire negative consequences both would likely face if the tariff threat went ahead.“We talked about how difficult this was going to be in terms of a turning point in the Canada-U.S. relationship,” Trudeau noted.​

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[h=5]Read more[/h]

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• U.S. imposing steel and aluminum tariffs on Canada, Mexico, EU
• MEMA slams Trump’s tariffs
• What’s next? NAFTA talks face up hill battle

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Canada responded by 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.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, said Foreign Affairs Minister Chrystia Freeland.“This is the strongest trade action Canada has taken in the post-war era,” Freeland said. “This is a very strong Canadian action in response to a very bad U.S. decision.”The U.S. measures, aimed at Canada, Mexico and the European Union, are illegal and counterproductive, said Freeland. Both she and Trudeau sounded incredulous that Canada could ever be considered a national-security threat to such a close and important ally.“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 have far preferred that its hand wasn’t forced.​

[h=3]“This is a very strong Canadian action in response to a very bad U.S. decision.”[/h]

— Canadian Foreign Affairs Minister Chrystia Freeland​

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 were to expire as scheduled on Friday.A spokeswoman for the U.S. Chamber of Commerce told The Canadian Press that the decision will hurt American workers and families and will “will hike prices, upend supply chains, and cost American jobs.“The effects of retaliatory measures will similarly ripple across our economy, stunting growth and job creation while threatening to fracture our alliances with our strongest international partners.”Perrin Beatty, the president of the Canadian Chamber of Commerce, called Thursday’s decision “tragic” and said it flew in the face of a long history of military, economic and diplomatic co-operation between the two countries.“The unilateral action by the Trump administration severely damages that relationship. It’s illegal. It’s immoral. It’s irrational,” Beatty said in an interview.During a conference call early Thursday, Commerce Secretary Wilbur Ross played down the divisions. But the move means 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.​

[h=3]“There are periodic disagreements between any two countries on any given set of topics. That doesn’t necessarily mean that it derails other discussions at all.”[/h]

— U.S. Commerce Secretary Wilbur Ross​

Ross shrugged off questions about the U.S. facing possible retaliation, or whether the move would negatively affect the G7 meeting. And he repeated that while he was looking forward to continuing negotiations, the U.S. decision was based on national security grounds.The long-threatened tactic is sure to cast a pall over the G7, with some observers saying a G6-plus-one scenario is already shaping up, with Trump as the outlier.“There are periodic disagreements between any two countries on any given set of topics. That doesn’t necessarily mean that it derails other discussions at all,” said Ross.“It all depends on how the various parties react to the circumstances.”While the tariffs have had “major, positive effects” on industry jobs and workers, “the Trump administration’s actions underscore its commitment to good-faith negotiations with our allies to enhance our national security while supporting American workers,” the White House said in a statement.Ontario Premier Kathleen Wynne, campaigning in advance of the June 7 provincial election, savaged the U.S. president as she called the tariff measure short-sighted and urged Trudeau “to take the strongest retaliation possible to protect our workers” and industry.“I think that we’ve all had just about enough of Donald Trump…. He doesn’t seem to get that his bluster and his bullying are costing people real jobs – in his own country, in Canada and in Ontario,” Wynne said.“I really believe that now the time for talk is done. Donald Trump is a bully and the only way to deal with a bully is to stand up and push back and we have to do that.”But one Canada watcher in Washington stressed there was no need for Canada to take Thursday’s decision personally.“The key takeaway is Donald Trump does not view the Canada-U.S. relationship as special,” Eric Miller of the Rideau Potomac Strategy Group, said in an interview.“This is Trump versus the world, rather than Trump versus Canada.”​

 

[Cdnfireman]

Multilateral trade deals with very different countries are gonna be problematic and it’s a wonder that NAFTA has lasted this long what with the huge wage disparities between Mexico and the rest of North America. Trump is right, NAFTA has been a disaster for the states in that huge numbers of businesses closed up and moved to Mexico to take advantage of the lower wages.
IMHO, I doubt you’ll see NAFTA re-negotiated. I think we’ll see a bilateral deal between Canada and the states. The supply management existing in the food and agriculture sectors will have to be changed and the softwood lumber issues will have to be ironed out as well, something that I’m sure can be done.
All this talk about Canada “ pushing back “ is a joke. We trade with them at their pleasure. They can ignore us and shut us out anytime they want. We have the advantage of being close and very similar in wants and needs to the USA. We better stitch up a deal because if we don’t, someone else will step up and replace us.

 

[52weekbreak]

What would you do? Trudeau is delivering an appropriately measured response whether you like him or not.

Who would take our place as the principal US trading partner? North Korea? China, Canada, Mexico and the European Union are all in the same boat. The UK is not directly involved right now but are not keen on being first in with someone behaving badly. Same protectionism that was around before the great depression of the 30's. Maybe he will make friends with Venezuela and Cuba. I don't think we need to give an inch at this point anyway.

Multilateral trade deals with very different countries are gonna be problematic and it’s a wonder that NAFTA has lasted this long what with the huge wage disparities between Mexico and the rest of North America. Trump is right, NAFTA has been a disaster for the states in that huge numbers of businesses closed up and moved to Mexico to take advantage of the lower wages.
IMHO, I doubt you’ll see NAFTA re-negotiated. I think we’ll see a bilateral deal between Canada and the states. The supply management existing in the food and agriculture sectors will have to be changed and the softwood lumber issues will have to be ironed out as well, something that I’m sure can be done.
All this talk about Canada “ pushing back “ is a joke. We trade with them at their pleasure. They can ignore us and shut us out anytime they want. We have the advantage of being close and very similar in wants and needs to the USA. We better stitch up a deal because if we don’t, someone else will step up and replace us.

 

[busted2x]

Perfect! Now our dollar can get worse, and everyday items more expensive!

 

[52weekbreak]

That is how trade wars work - currency value drops and goods become more expensive. Who gets the tariffs I wonder? If the government keeps it, it is just another tax.

 

[Cdnfireman]

What would you do? Trudeau is delivering an appropriately measured response whether you like him or not.

Who would take our place as the principal US trading partner? North Korea? China, Canada, Mexico and the European Union are all in the same boat. The UK is not directly involved right now but are not keen on being first in with someone behaving badly. Same protectionism that was around before the great depression of the 30's. Maybe he will make friends with Venezuela and Cuba. I don't think we need to give an inch at this point anyway.

Everyone needs to calm down and realize that this is just a bargaining position and shortly, (particularly for Canada) , cooler heads will prevail and the USA and Canada will come to an arrangement and sign a bilateral deal that both countries can live with. There’s lots of states that stand to lose economically in a trade war with Canada and vice versa. The inclusion of Mexico in the agreement with their low wages and standards of living makes a trilateral agreement difficult. Canada and the USA are too similar in outlook and standards of living to be at odds for long.
Having trudeau and freeland standing there like they’re gonna lay down the law on the states is laughable. Tariffs on pickles and Hershey chocolate bars aren’t sending shivers down the spines of the Americans.
The USA will come back to the table, tell the Canadians to stop droning on about and tying gender equality and homosexual issues with trade and get serious about doing a deal. Canada will have to modify supply management and softwood lumber positions and all will be as it was. If they don’t, the Americans will change their position on content percentages in auto manufacturing and the auto industry north of the border will cease to exist. The liberals will have to face the facts that the auto and manufacturing industries in Ontario are far more important to Canada than the dairy and chicken farmers in Quebec, or the lumber industry in BC. And if you think that countries like Australia, Argentina, England and others won’t step in and fill in the gaps with the Americans, you’re mistaken.

 

[Keith Brown]

It will be fun watching the mid term results In November. I looks like Trump will get his Azz handed to him on a platter. That should pretty well neuter the old degenerate for the next two years. Then the Alberta election after that gonna be some very entertaining tv this year.

 

[fj40]

Trudeau has no clue on how to handle Trump.
He needed to say goodbye to NAFT and make a new deal without Mexico, but no He wants to save the world and screw Canada.
Like I heard a while ago it's godzilla against bambi.

 

[52weekbreak]

https://www.msn.com/en-ca/news/cana...-pittis/ar-AAycDby?li=AAadgLE&ocid=spartandhp

 

[LennyR]

It's laughable that anyone would give credence to these university academics who have proven they truly are clueless in a practical sense, like , out of the classroom where students "have" to listen to them, or the political pundits and journalists who readily accept the way things have always been done, they've seen the evidence and are aware these things dont work, but they really don't know any other way.

 

[eclipse1966]

obviously you are not in the expert / import trade biz! The US has so many subsidized industries its not funny and and only point out to our supply management dairy and poultry industries. I face it daily and the only way we can make our point strong is to fight fire with fire in this case. If we don't, that will set long term precedents that anyone can do anything to Canada and we will simply take it in the chin. Weather you like it or not NAFTA has a passing grade for both sides of the border at 75%. Sure it needs to be tweaked and negotiated to fit the current global environment but protectionism is not going to work anymore. As for imports to replace Canada, have you ever imported anything?? The countries you listed are subjected to quotas and tariffs and many many items into the US and in many case such as agri commodities total restrictions. The US consumer would lose their minds if they had to pay 200% duty on milk and cheese products from outside N.America.

Everyone needs to calm down and realize that this is just a bargaining position and shortly, (particularly for Canada) , cooler heads will prevail and the USA and Canada will come to an arrangement and sign a bilateral deal that both countries can live with. There’s lots of states that stand to lose economically in a trade war with Canada and vice versa. The inclusion of Mexico in the agreement with their low wages and standards of living makes a trilateral agreement difficult. Canada and the USA are too similar in outlook and standards of living to be at odds for long.
Having trudeau and freeland standing there like they’re gonna lay down the law on the states is laughable. Tariffs on pickles and Hershey chocolate bars aren’t sending shivers down the spines of the Americans.
The USA will come back to the table, tell the Canadians to stop droning on about and tying gender equality and homosexual issues with trade and get serious about doing a deal. Canada will have to modify supply management and softwood lumber positions and all will be as it was. If they don’t, the Americans will change their position on content percentages in auto manufacturing and the auto industry north of the border will cease to exist. The liberals will have to face the facts that the auto and manufacturing industries in Ontario are far more important to Canada than the dairy and chicken farmers in Quebec, or the lumber industry in BC. And if you think that countries like Australia, Argentina, England and others won’t step in and fill in the gaps with the Americans, you’re mistaken.

 

[Cdnfireman]

obviously you are not in the expert / import trade biz! The US has so many subsidized industries its not funny and and only point out to our supply management dairy and poultry industries. I face it daily and the only way we can make our point strong is to fight fire with fire in this case. If we don't, that will set long term precedents that anyone can do anything to Canada and we will simply take it in the chin. Weather you like it or not NAFTA has a passing grade for both sides of the border at 75%. Sure it needs to be tweaked and negotiated to fit the current global environment but protectionism is not going to work anymore. As for imports to replace Canada, have you ever imported anything?? The countries you listed are subjected to quotas and tariffs and many many items into the US and in many case such as agri commodities total restrictions. The US consumer would lose their minds if they had to pay 200% duty on milk and cheese products from outside N.America.

The amercan consumer would never have to pay a 200% tariff on milk and cheese because they produce more than than they need domestically. Canada can huff and puff all it wants, but at the end of this the deals signed will be more beneficial to the states than the current situation or they won’t agree to it. If you think Canada or Mexico or the limp noodles in Europe are gonna lay down the law on the states you’re delusional. It amazes me that companies will drop their pants and bend over to do business in China, give up their intellectual property etc, yet get all pissy when the USA wants to renegotiate their trade deal. Like I said, everyone needs to calm down and let things settle. Cooler heads will prevail and a reasonable deal for everyone will get done. Trump is just stirring the pot and getting trade deals settled with friendly nations before he sets his sights on the real economic and trade manipulation perpetrated by China.

 

[eclipse1966]

ohhhhh grasshopper you have so much to learn in the trade biz! I have been at it for 30 plus years and you have zero clue how it works. If it were so easy as you think it is why doesnt the US simply apply more aggressive tariffs against the Chinese when they have a trade imbalance of 380 billion with China which has been going on for years and years. Also, you forget that Canada buys more product from the US than they from Canada. So, yes we can huff and puff and make an impact towards 38 states who have Canada as their number 1 customer. At the end of the day both countries need each other and Trump's bully attitude is a joke. As we speak, I have 6 truck load of AB grain stuck at the border for various non-consequential reasons and will eventually get them thru. But this is costing Canadian growers/exporters a lot of money and headaches just because bonehead south of the border wants us to play by his rules in the sandbox but won't play by ours.

The amercan consumer would never have to pay a 200% tariff on milk and cheese because they produce more than than they need domestically. Canada can huff and puff all it wants, but at the end of this the deals signed will be more beneficial to the states than the current situation or they won’t agree to it. If you think Canada or Mexico or the limp noodles in Europe are gonna lay down the law on the states you’re delusional. It amazes me that companies will drop their pants and bend over to do business in China, give up their intellectual property etc, yet get all pissy when the USA wants to renegotiate their trade deal. Like I said, everyone needs to calm down and let things settle. Cooler heads will prevail and a reasonable deal for everyone will get done. Trump is just stirring the pot and getting trade deals settled with friendly nations before he sets his sights on the real economic and trade manipulation perpetrated by China.

 

[skegpro]

Must be nice to have a president that puts his own country first.