BR100 Increased By (1.11%)
BR30 Increased By (1.36%)
KSE100 Increased By (0.93%)
KSE30 Increased By (0.96%)
BECO 5.75 Increased By ▲ 0.04 (0.7%)
BML 59.70 Increased By ▲ 0.03 (0.05%)
BOP 36.44 Increased By ▲ 0.71 (1.99%)
CNERGY 8.35 Increased By ▲ 0.07 (0.85%)
DCL 12.08 Decreased By ▼ -0.05 (-0.41%)
FCCL 57.20 Decreased By ▼ -0.19 (-0.33%)
FCSC 5.50 Decreased By ▼ -0.02 (-0.36%)
FFL 18.09 Increased By ▲ 0.06 (0.33%)
FNEL 1.36 Increased By ▲ 0.01 (0.74%)
HUMNL 11.78 Increased By ▲ 0.12 (1.03%)
KEL 8.17 Increased By ▲ 0.10 (1.24%)
KOSM 6.34 Increased By ▲ 0.08 (1.28%)
MLCF 98.49 Increased By ▲ 0.36 (0.37%)
NBP 204.11 Increased By ▲ 5.78 (2.91%)
PACE 11.85 Increased By ▲ 0.08 (0.68%)
PAEL 43.70 Increased By ▲ 0.61 (1.42%)
PIAHCLA 27.99 Increased By ▲ 0.64 (2.34%)
PIBTL 17.98 Increased By ▲ 0.02 (0.11%)
PPL 233.76 Increased By ▲ 0.98 (0.42%)
PRL 36.33 Increased By ▲ 0.64 (1.79%)
PTC 68.05 Increased By ▲ 0.47 (0.7%)
SEARL 95.00 Increased By ▲ 0.72 (0.76%)
SSGC 29.37 Increased By ▲ 1.71 (6.18%)
TELE 9.21 Increased By ▲ 0.02 (0.22%)
THCCL 70.45 Decreased By ▼ -0.14 (-0.2%)
TPLP 11.31 Decreased By ▼ -0.06 (-0.53%)
TREET 25.33 Decreased By ▼ -0.09 (-0.35%)
TRG 69.34 Increased By ▲ 0.49 (0.71%)
WAVES 11.44 Increased By ▲ 0.19 (1.69%)
WTL 1.29 No Change ▼ 0.00 (0%)

OTTAWA: Canada hit back at the United States Friday with retaliatory tariffs on $12.6 billion in American goods, including summer barbecue essentials such as orange juice, ketchup and bourbon.

The 25 percent tariffs on steel products and 10 percent on aluminum and consumer goods take effect on July 1 in the opening salvo in a trade war with President Donald Trump.

Ottawa also announced Can$2 billion (US$1.5 billion) in aid for Canadian steel and aluminum industries and workers hurt by US metals tariffs announced in March and imposed on Canada on June 1.

Trump initially exempted key suppliers and allies like Canada from the 25 percent duties on steel imports and 10 percent on aluminum.

"Canada has to choice but to retaliate with a measured, reciprocal dollar-for-dollar response. That is what we are doing," said Foreign Minister Chrystia Freeland, making the announcement at a steel plant in Hamilton, Ontario flanked by brawny workers in yellow hardhats.

"We will not escalate and we will not back down," she added, while urging Washington to reconsider its attack on the Canadian economy, and noting that the response was Ottawa's toughest trade action since World War II.

The list of some 250 US goods subject to the Canadian duties aim to apply maximum pressure on Trump supporters in swing states in upcoming US midterm elections in November.

The tariff targets include Florida orange juice, Wisconsin toilet paper, North Carolina gherkins, which are labor intensive to produce.

Copyright AFP (Agence France-Press), 2018

Comments

Comments are closed for this article.