Canada imposed new tariffs on US imports on Tuesday, September 8, at 15 %, 25 %, and 50 %, equivalent to approximately US$20 billion.

According to the official list published by the Canadian government, “the new tariffs apply to selected products among those affected by US tariffs, with individual rates corresponding to the percentage applied by Washington to the same goods.”

This measure came after “Prime Minister Mark Carney’s government opted to maintain a firm stance against US President Donald Trump, in order to strengthen its negotiating position with Washington,” as reported by Bloomberg.

In trade matters, relations between the two countries have deteriorated in recent months, leading to a tariff war. As is known, since February of last year, “Washington has imposed tariffs on numerous Canadian imports, to which Ottawa has responded with retaliatory measures.”

Negotiations for a trade agreement reached a standstill last August, triggering a new escalation of tariffs between the two countries.

M.Pino

Source: actualidad.rt.com

(Reference image source: Daniel Miksha on Unsplash)

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Amid new announcements related to tariffs on various countries and economic activities, US President Donald Trump included a 50 % tax on copper imports.

In a meeting with his cabinet on Tuesday, July 8, Trump announced this new tariff “on all copper imported into the United States, but did not specify an effective date.”

The US president added that he is planning other tariffs “for selected industries, including pharmaceuticals, semiconductors, and metals.” Commerce Secretary Howard Lutnick added that the department has completed its investigation into copper, so the 50 % tax could begin to be implemented by the end of July or possibly August 1.

Trump also mentioned a tax of up to 200 % on foreign-made pharmaceuticals, “but this might not go into effect anytime soon in order to get more companies to relocate to the United States.”

M.Pino

Source: xinhua

(Reference image source: Francisco Fernandes en Unsplash)

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