US Bans $19.9 Billion in Canadian Imports as Trade Deal Signals Diverge
Updated
Updated · CNBC · Sep 29
US Bans $19.9 Billion in Canadian Imports as Trade Deal Signals Diverge
3 articles · Updated · CNBC · Sep 29
Summary
$19.9 billion in Canadian vehicles, dairy and alcohol products became subject to a US import ban Tuesday, widening the Trump administration's trade offensive beyond the earlier focus on booze.
The list spans motorcycles and mopeds above 800cc, whey and molasses, and consumer-packaged beer, cider, wine, whiskey and vodka, extending a tit-for-tat fight that already includes steep tariffs on both sides.
Trump said he expects a “fair deal” within three to four weeks, but U.S. Trade Representative Jamieson Greer said there was “no urgency” because the United States still gets key supplies such as oil, gas and potash from Canada.
Canada has not added new retaliation since the Sept. 9 US ban announcement, though Ottawa says it will not accept a bad deal and already has 15% to 50% tariffs on CA$27.6 billion of US goods.
The clash still covers only a slice of the $715.5 billion annual goods trade, but economists and officials warn a prolonged standoff could hit autos, metals and smaller businesses while clouding Canada’s growth outlook.