The China Mail - Canada to announce response to Trump's new tariffs

USD -
AED 3.672499
AFN 65.502406
ALL 79.163542
AMD 364.819005
ANG 1.789783
AOA 918.000057
ARS 1509.502502
AUD 1.397468
AWG 1.795
AZN 1.703542
BAM 1.676086
BBD 2.013404
BDT 122.75417
BGN 1.696366
BHD 0.37692
BIF 2981.509652
BMD 1
BND 1.27037
BOB 11.500754
BRL 5.156697
BSD 0.999636
BTN 95.661079
BWP 13.394468
BYN 2.995445
BYR 19600
BZD 2.01049
CAD 1.385101
CDF 2277.498403
CHF 0.80333
CLF 0.023206
CLP 913.330267
CNY 6.72215
CNH 6.723385
COP 3067.59
CRC 452.93853
CUC 1
CUP 26.5
CVE 94.495578
CZK 20.659401
DJF 178.005356
DKK 6.409925
DOP 58.792021
DZD 133.059018
EGP 50.804301
ERN 15
ETB 163.294924
EUR 0.857501
FJD 2.216399
FKP 0.732895
GBP 0.733515
GEL 2.604961
GGP 0.732895
GHS 11.121109
GIP 0.732895
GMD 73.99961
GNF 8783.665074
GTQ 7.628034
GYD 209.1389
HKD 7.83826
HNL 26.810361
HRK 6.461297
HTG 130.776087
HUF 311.240499
IDR 17738.4
ILS 3.001504
IMP 0.732895
INR 95.74135
IQD 1309.560538
IRR 1374574.99986
ISK 120.91025
JEP 0.732895
JMD 158.148902
JOD 0.708972
JPY 159.348505
KES 129.409561
KGS 87.450068
KHR 4045.831619
KMF 423.000139
KPW 900.000294
KRW 1382.650104
KWD 0.30862
KYD 0.832994
KZT 457.315479
LAK 22458.179076
LBP 89525.413415
LKR 328.799877
LRD 181.432538
LSL 16.021613
LTL 2.95274
LVL 0.60489
LYD 6.331441
MAD 9.272333
MDL 17.273561
MGA 4303.987316
MKD 52.725847
MMK 2099.738633
MNT 3594.266195
MOP 8.068268
MRU 40.02314
MUR 46.279974
MVR 15.459664
MWK 1733.421893
MXN 16.94771
MYR 4.047021
MZN 63.904968
NAD 16.021682
NGN 1347.230285
NIO 36.790258
NOK 9.303028
NPR 153.055759
NZD 1.67711
OMR 0.384498
PAB 0.999589
PEN 3.356115
PGK 4.498262
PHP 61.745503
PKR 277.382812
PLN 3.692675
PYG 6007.730346
QAR 3.643991
RON 4.503802
RSD 100.595004
RUB 83.854294
RWF 1473.422603
SAR 3.751891
SBD 8.019375
SCR 13.874751
SDG 601.487686
SEK 9.499649
SGD 1.27065
SHP 0.740866
SLE 24.649662
SLL 20969.499227
SOS 571.269416
SRD 37.7715
STD 20697.981008
STN 20.995891
SVC 8.746438
SYP 13001.999906
SZL 16.016969
THB 32.761044
TJS 9.236511
TMT 3.51
TND 2.910753
TOP 2.40776
TRY 48.100099
TTD 6.786502
TWD 31.887505
TZS 2649.998037
UAH 44.714932
UGX 3723.604827
UYU 40.064103
UZS 11815.268065
VES 783.68245
VND 26144
VUV 118.52355
WST 2.715906
XAF 562.148473
XAG 0.014754
XAU 0.000216
XCD 2.70255
XCG 1.801564
XDR 0.707052
XOF 562.148473
XPF 102.204168
YER 237.096871
ZAR 16.01495
ZMK 9001.254127
ZMW 18.968487
ZWL 321.999592
  • CMSC

    0.1264

    21.228

    +0.6%

  • RBGPF

    2.5700

    71.13

    +3.61%

  • CMSD

    0.0800

    21.06

    +0.38%

  • NGG

    0.6600

    80.42

    +0.82%

  • RIO

    -0.5000

    104.8

    -0.48%

  • BCC

    -0.2300

    82.24

    -0.28%

  • GSK

    -0.6300

    51.78

    -1.22%

  • RELX

    0.4800

    36.39

    +1.32%

  • BCE

    0.1400

    23.85

    +0.59%

  • JRI

    -0.0100

    12.37

    -0.08%

  • BTI

    0.5000

    56.71

    +0.88%

  • BP

    -1.0200

    43.74

    -2.33%

  • RYCEF

    0.1900

    20.44

    +0.93%

  • VOD

    0.0200

    15.98

    +0.13%

  • AZN

    0.7300

    166.71

    +0.44%

Canada to announce response to Trump's new tariffs

Canada to announce response to Trump's new tariffs

Canada said it will announce Tuesday its response to President Donald Trump's new tariffs, as neighbors that used to be close allies spiral into a trade war.

Text size:

In response to what it called "these challenging times," the Canadian government said Monday night that the ministers of finance, industry, labor and other officials would hold a press conference in Ottawa to detail Canada's answer to the new levies.

Canada and the United States failed Friday to reach a deal to avert new 50-percent US tariffs on select Canadian goods after weeks of talks. The duties took effect Saturday, and Ottawa laid out plans for retaliation.

Trump added Monday that he would double tariffs on Canadian autos starting next year to 50 percent.

The current US tariff impacting Canadian autos stands at 25 percent for non-US content, while imported steel to the United States generally faces a 50-percent duty. US automakers did not immediately comment on the matter.

After rejecting what he called a "bad deal," Canadian Prime Minister Mark Carney announced retaliatory tariffs effective September 8.

He said these will target US steel and dairy industries, while also covering sectors like agricultural equipment, paper and electronics.

The government statement released late Monday said ministers will "announce new measures to protect and support Canadian workers and businesses during these challenging times."

Carney said Monday that the goal of trade talks with Washington "has always been to get the best deal for Canadians, never a deal at any price or on any time frame."

"We learned that, during the negotiations, the Americans wanted to destroy our major industries -- including the automotive, steel, and aluminum sectors -- through unfair negotiating terms. And that is one of the main reasons why we said no."

He stressed that building domestically and diversifying trade abroad has been "plan A from the start."

Over the weekend Carney added that, at the 11th hour, US negotiators also sought restrictions on Canadian trade deals with other countries.

US negotiators made unacceptable "threats" to the French language and "Quebec culture" too, he said, referring to eastern Canada's French-speaking province.

At a separate event Monday, however, US Vice President JD Vance blamed Canada's "unreasonable last-minute demands."

The United States is by far Canada's biggest trading partner, with Canadian exports to its neighbor representing 70 percent of its overall total.

Canada is the United States' second biggest trading partner in goods this year, behind Mexico, government data showed.

- 'We don't need Canada' -

Three in four Canadians support the Carney government's decision to walk away from trade talks, according to polling released Sunday by the Angus Reid Institute.

However, the research group noted that two in five Canadians have some fear about their jobs.

Ontario Premier Doug Ford criticized Trump's tariff threat on autos, saying he could "kiss my ass."

Ford warned that an electricity surcharge was on the table. In an earlier phase of the dispute, Ontario imposed a 25-percent surcharge on electricity exports to three US states.

Trump lashed out at Ford online, warning of "far worse" consequences.

The White House had alleged "discriminatory treatment" by Canada against US alcohol, automobile and dairy products in rolling out the 50-percent tariffs.

Trump delayed their implementation by three days last week, but both sides failed to reach an agreement after talks went down to the wire.

The latest duties hit about 5.5 percent of Canadian goods entering the US, worth some $20 billion, impacting products like hockey sticks and cement.

Trump charged Monday that "Canada has been ripping off the United States of America for years," adding "we don't need Canada, they need us."

US Trade Representative Jamieson Greer told The New York Times on Saturday that the Trump administration offered to eliminate a 10-percent tariff on softwood lumber, and reduce the 25-percent autos tariff.

Washington was also ready to cut steel tariffs from 50 percent to 25 percent for most Canadian steel, said Greer.

Besides the tariffs fight, Washington and Ottawa have to agree on revisions to the US-Mexico-Canada free trade agreement (USMCA) which Trump has declined to renew in its current form.

Trump has also repeatedly antagonized Canadians with his threats to make Canada a US state and calling Carney and his predecessor Justin Trudeau "governor" -- as if they were US politicians, not prime ministers of an other country.

P.Ho--ThChM