American President Donald Trump signed Monday, February 10, a mandate to introduce 25 percent tariffs for importing steel and aluminum.
In early March, United States President Donald Trump introduced 25% of tariffs for most Canadian and Mexican imports and doubled the existing 10% of import duties from China to 20%, which would affect the annual import of nearly $ 1.5 trillion. Accordingly, Trump has fulfilled his threat to Kapanad and Mexico with large imports, introducing one of the biggest increases in US tariffs since the 1930s, which has become a sharp addition of trade war, threatening to break connections to major economic partners.
Canada replied
In response, Canada announced the introduction of 25 percent tariffs against American goods for $ 155 billion. The Prime Minister of Canada Province of Ontario Dag Ford said that in response to US tariffs, the province forbids American companies to participate in local purchases and destroy the agreement for $ 100 million with the Spacex Company in the provision of high-speed internet.
Ford also threatened to apply a 25 percent electric margin, which Ontario provides to the United States if tariffs remain unchanged. Ontario provides electricity about 1.5 million customers on the United States borders. “We will also remove their electricity without hesitation,” Ford warned.
He said Canada and the United States could be two “richest, successful and safe” countries on the planet, but President Trump chose the chaos.
“We must make sure that America will feel sick,” said the head of government Ontario.
According to Ford, Ontario’s Liquor Control Board, considered the world’s largest alcohol consumer, also removes American products from the shelves of its stores.
They quickly returned it
A few days later, Trump suspended 25% of tariffs imposed on large groups of goods from Canada and Mexico, until April 2.
According to Canada, the decision suspended tariffs for Potash, which is very important for American farmers, but does not fully cover energy products where Trump applies a separate 10%fee.
In response, Ontario agreed to suspend a 25 percent allowance for exporting electricity in Michigan, New York and Minnesota.
It has beenb and aluminum
On Monday, March 10, Trump signed an order to introduce 25 percent tariffs for importing steel and aluminum. By signing the commandments, Trump said it was “something big is to make America rich.” Senior advisor at the White House on Trade and Production, Peter Navarro said it was not just about trade.
“It’s about ensuring that America has never been dependent on foreign states in important industries such as steel and aluminum,” he said.
The White House explained that Trump’s actions aim to advance the internal manufacture of metallurgy, as well as increasing work.
At the same time, the administration is in restrictions on China’s capabilities in the American market, although the United States receives most of these metals from other countries.
The Canadian government has announced plans to apply tariffs against goods from the United States worth nearly 30 billion Canadian dollars (20 billion American dollars) after Trump announced tariffs against Canada Steel and Aluminum.
The Minister of Finance Dominic Leblan called Trump’s tariff attack against Canada was unreasonable, and said Ottawa was forced to respond to how the United States created “disruptions and disturbances” in trade with its nearby partners.
The minister has detailed American steel and aluminum, computers, sports equipment and some other groups of goods will fall under the duties in Canada.
The European Union also announced the steps in response to the new US tariffs for imports of steel and aluminum, which entered strength on March 12.
Generally, EU countermeasures can apply to export American goods for up to 26 billion euros, which corresponds to the economic range of US tariffs.
At the same time, the EU is still ready to cooperate with the US administration to find a solution through negotiations.
The above steps can be canceled at any time if such a solution is found.
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.