Canada to impose reprisal rates of 25% out of $ 21 billion in American products

Workers withdraw a coil from the production line for quality control tests during steel production at the NLMK Indiana Steel Mill in Portage, Indiana, March 15, 2018.

Scott Olson | Getty images

Canada said on Wednesday that it would impose prices of 25% at more than $ 20 billion in American goods in retaliation for steel and aluminum tasks from the Trump administration that came into force overnight.

The new prices cover steel and aluminum, as well as other American products, including computers, sports equipment and cast iron products, said Canadian finance minister Dominic Leblanc, at a press conference.

They will take effect on Thursday, said Leblanc.

The new Canadian tasks are in addition to the 25% counter-tale that Ottawa slapped $ 30 billion in American products on March 4, in response to taxation by President Donald Trump of general prices on Canadian imports.

These Canadian countermeasures remain in place, despite Trump who issued temporary exemptions for some of his prices on March 6 following a severe sale on the stock market.

Trump's 25% prices on steel and aluminum have applied all imports of metals, not just those in Canada. After being promulgated early Wednesday morning, the European Union quickly announced that it would take its own tariffs on more than $ 28 billion in American products from April.

“It is much more than our economy. This is the future of our country,” said Melanie Joly, Minister of Canada Foreign Affairs, at the press conference on Wednesday.

“Canadians have enough, and we are a strong country,” said Joly.

A Canadian delegation led by Ontario Prime Minister Doug Ford plans to visit Washington on Thursday for commercial discussions with the Secretary of Commerce, Howard Lungick.

Ford met Wednesday morning with the designation of Prime Minister Mark Carney before the American meetings. Carney is expected to succeed the outgoing Prime Minister Justin Trudeau in the coming weeks.

Trump is a devoted fan of prices that presented them as key tools to negotiate with other countries, generate income and protect and stimulate national industries.

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But most economists warn that import taxes on imports that are paid by importers threaten to upset supply chains and increase consumer prices. Trump's deployment of his pricing plans has generated significant uncertainty on Wall Street, leading at least in part to a slowdown in the stock market of several weeks.

Trump has offered many reasons at his prices, adding to the confusion on the reasons why the United States attaches a trade war with many of its main business partners, in particular Canada and Mexico.

At the same time, Trump has accumulated his rhetorical attacks on Canada leaders and has repeatedly expressed Canada's desire to become the 51st American state, exasperating many Canadians.

“The only constant in this unjustified and unjustifiable trade war seems to be President Trump's talks to annex our country by economic coercion,” said Joly on Wednesday.

Trump doubled his Canadian State of State on Tuesday, while threatening to double at 50% of American prices on steel and aluminum imports from Canada.

This threat came after Ford said that he would add an overload of 25% to electricity exports from his province to three American states. The supplement was reprisals against Trump's prices on Canada.

Trump fell from his threat to 50% later Wednesday after Ford said he would arouse the surcharge plan.

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