Canada on Tuesday moved to impose up to 50% tariffs on a raft of U.S. goods, including hundreds of steel and aluminum products, following a breakdown of trade talks and heated tariff escalation between the two neighboring countries.
The countermeasures, which go into effect Sept. 8, will mirror the U.S. Section 338 and Section 232 tariffs, as well as cover $27.6 billion in imports including seafood, dairy products, flooring, kitchen appliances and lawnmowers, according to Canada’s government. They also target more than 300 steel and aluminum products and derivatives.
U.S. steel and aluminum products that were previously subject to a 25% tariff will soon face a 50% rate as part of the countermeasures, according to Canada’s government. Steel and aluminum derivative products will be subject to 25% tariffs.
The move came as a surprise to metal industry experts. In the days leading up to the escalation, market research and consulting firm World Steel Dynamics anticipated the possibility of a reduced 25% tariff rate on steel and aluminum goods between the U.S. and Canada.
This would have been the “first such exception” that the Trump administration has made with any country globally and could have opened the door for remediation with Mexico, South Korea, Japan and other key trading partners. However, the opposite happened.
Domestic steel and aluminum trade groups have largely supported the administration’s aggressive enforcement of U.S. trade law in an effort to address alleged import dumping from China and bolster domestic metals production. They have also expressed a need for an improved U.S.-Mexico-Canada Agreement, which the U.S. declined to renew in July. The current version of the deal remains in place through July 2036.
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