Canada to impose retaliatory tariffs on U.S.
Photo: Hector Retamal/AFP/Getty Images
Canada will impose retaliatory tariffs against the United States in response to the Trump administration's decision to extend steel and aluminum tariffs to Canada. During a press conference Thursday afternoon, Canadian Prime Minister Justin Trudeau called the American decision "totally unacceptable," adding he finds it "inconceivable" that "Canada could be considered a national security threat to the United States."
The details: Canada will impose its own tariffs against American steel, aluminum, and other products in the amount of $16.6 billion at rates of 25% and 10%, which represents the total value of Canada's 2017 steel and aluminum exports to the U.S. They'll go into effect on July 1, remaining until the U.S. ends its own tariffs.