US Trade Chief Floats Ban on Canadian Goods as 50% Tariffs Hit $20 Billion
Updated
Updated · Yahoo Finance · Aug 27
US Trade Chief Floats Ban on Canadian Goods as 50% Tariffs Hit $20 Billion
3 articles · Updated · Yahoo Finance · Aug 27
Summary
Jamieson Greer said Washington may need to ban some Canadian goods, escalating a dispute that already triggered new US tariffs on Canadian imports.
Greer argued Canada had already barred some US products, capped certain auto imports and restricted provincial procurement, while saying US-Canada trade channels are currently not open.
The breakdown came after talks that had appeared close to a deal collapsed before last Friday’s deadline, with Washington blaming Ottawa for rejecting favorable terms and Canada citing late changes threatening autos and sovereignty.
Since then, the US has imposed 50% tariffs on $20 billion of Canadian imports, and Prime Minister Mark Carney said Canada will answer with 15% to 50% duties on a similar amount of US goods from Sept. 8.
Carney’s hard line has drawn domestic support, but the widening trade war also risks political blowback in the US ahead of November’s midterm elections.