Canada removes retaliatory tariffs on US aluminium and steel

Canada’s Finance Minister Bill Morneau declared on Monday, May 20, that the country lifted the retaliatory tariffs on aluminium and steel, as well as more than 70 other products including licorice, coffee, sleeping bags and ketchup from the United States.

“The removal of tariffs and countermeasures is a true win-win for everyone involved, and great news for Canadian and American workers, for our communities, and our economies,” Morneau said in a written statement.

Canada took this decision after the United States reached a deal to lift tariffs on steel and aluminium imports in a move that could lead to approval for a new North American trade deal.

Trump tweeted late Sunday, May 19, that US farmers “can begin doing business again with Mexico and Canada.”

The Canadian retaliatory duties on the US were carefully selected to match the dollar value of the tariffs that Canadian companies were paying to the US, as well as to target popular products in states of prominent Republican lawmakers. Thus, the products included were Kentucky bourbon from the home state of Senate Majority Leader Mitch McConnell, and pickles, gherkins, lawn mowers, and yogurt – all big industries in Wisconsin, the state of former House of Representatives Speaker Paul Ryan. In addition, 25 per cent surtax was levied on US steel imports and 10 per cent on aluminium.

According to a finance official, Canada, as of April 30, collected US$1.27 billion from the retaliatory measures. This figure may climb further when Canada Border Services Agency gets final reports from Canadian importers.

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