Gunny
06-01-2018, 08:27 PM
The US has slapped tariffs on steel and aluminium imports from its allies the EU, Canada and Mexico - but don't think they'll take it without a fight.
All three have already announced retaliatory measures as the US follows its new policy, which has been attacked as "protectionism, pure and simple" by the EU.
Ranging from serious to strange, these counter-tariffs could play a part in a growing trade battle.
It's too early to say how consumers will be hit in all the affected countries, but prices could rise throughout the world in light of these tariffs.
Read on to see which American products each US ally plans to target.
What is a trade war and why should I worry? (http://www.bbc.com/news/world-43512098)
Trade tariffs: Real war or phoney war (http://www.bbc.com/news/business-44322116)
CanadaPrime Minister Justin Trudeau objected strongly to the announced tariffs, calling them an "affront" to their nations' military alliance.
He said Canada buys half of US steel exports.
Canada plans "trade-restrictive countermeasures" on C$16.6bn ($12.8bn) of US goods, to come into effect on 1 July.
The country will impose a 25% tariff on assorted US steel products, including railway tracks, piping and steel sheets.
But Canada also plans a 10% tariff on more varied items:
Yoghurt, soya sauce, strawberry jam, "mixed condiments", pizza and quiche
Orange juice, whiskies, coffee, soups and waters
Manicure and pedicure products, hair lacquers, shaving foam, toilet paper and dishwasher detergents
Playing cards, felt-tipped pens, inflatable boats, lawnmowers and sleeping bags
The list, published by the Department of Finance (https://www.fin.gc.ca/activty/consult/cacsap-cmpcaa-eng.asp), also includes a 10% tariff on candles - although, relax Canadians, "not including those for birthdays, Christmas or other festive occasions".
Senior Canadian officials say the list is designed to exert political pressure on the US and make it take notice of how this will affect trade.
Asked by reporters if he was ready to start a trade war with its southern neighbour, Mr Trudeau said Canada was "ready for anything".
The EUEuropean Commission President Jean-Claude Juncker said he planned to take the US to the World Trade Organization over the American tariffs, a policy he called "totally unacceptable".
Meanwhile, EU Trade Commissioner Cecilia Malmstrom called the US measures a "dangerous game" (http://www.bbc.co.uk/news/business-44324565) and said the EU would not "stay silent".
The bloc released a list of tariffs (http://trade.ec.europa.eu/doclib/docs/2018/march/tradoc_156648.pdf) in March - 10 pages of US goods it plans to target:
Bourbon whiskey, orange juice and cranberries
Jeans, T-shirts and tobacco
Corn and other agricultural products
Steel and industrial products
Cosmetics, consumer goods, motorbikes and pleasure boats
Snuff and chewing tobacco
The aim is to have the maximum political effect. Kentucky, home to bourbon whiskey, is Senate majority leader Mitch McConnell's state.
Orange juice, meanwhile, is a major export of Florida - a key US swing state.
France's junior trade minister Jean-Baptiste Lemoyne said he expects EU counter-measures to be completed by mid-June.
MexicoAmerica's southern neighbour also swiftly released a list of products on which it would impose tariffs, "up to an amount comparable to the level of damage" of US tariffs.
Economy Minister Ildefonso Guajardo said in a radio interview that the measures would target US products from districts that would cause political difficulties for Mr Trump.
He said levies would be placed on the following: (https://www.gob.mx/se/articulos/mexico-impondra-medidas-equivalentes-a-diversos-productos-ante-las-medidas-proteccionistas-de-ee-uu-en-acero-y-aluminio-158765?idiom=es)
Flat steel, hot and cold foil products, and piping
Cold cuts, pork chops and sausages
Berries, grapes, apples and "various cheeses"
Lamps
Mr Guajardo said Mexico was the top buyer of US aluminium and the second-biggest buyer of US steel, and that "this kind of thing does not benefit anybody".
US tariffs could hit $4bn worth of trade between the two countries.
In 2009, Mexico imposed higher tariffs on dozens of US products such as apples, frozen potatoes and Christmas trees in a dispute over the access of Mexican trucks to US highways.
http://www.bbc.com/news/business-44320727
Pretty lame title for the BBC considering the lists above that apparently are not all-inclusive. Saw this one coming. We, the consumers, are going to pay for it.
All three have already announced retaliatory measures as the US follows its new policy, which has been attacked as "protectionism, pure and simple" by the EU.
Ranging from serious to strange, these counter-tariffs could play a part in a growing trade battle.
It's too early to say how consumers will be hit in all the affected countries, but prices could rise throughout the world in light of these tariffs.
Read on to see which American products each US ally plans to target.
What is a trade war and why should I worry? (http://www.bbc.com/news/world-43512098)
Trade tariffs: Real war or phoney war (http://www.bbc.com/news/business-44322116)
CanadaPrime Minister Justin Trudeau objected strongly to the announced tariffs, calling them an "affront" to their nations' military alliance.
He said Canada buys half of US steel exports.
Canada plans "trade-restrictive countermeasures" on C$16.6bn ($12.8bn) of US goods, to come into effect on 1 July.
The country will impose a 25% tariff on assorted US steel products, including railway tracks, piping and steel sheets.
But Canada also plans a 10% tariff on more varied items:
Yoghurt, soya sauce, strawberry jam, "mixed condiments", pizza and quiche
Orange juice, whiskies, coffee, soups and waters
Manicure and pedicure products, hair lacquers, shaving foam, toilet paper and dishwasher detergents
Playing cards, felt-tipped pens, inflatable boats, lawnmowers and sleeping bags
The list, published by the Department of Finance (https://www.fin.gc.ca/activty/consult/cacsap-cmpcaa-eng.asp), also includes a 10% tariff on candles - although, relax Canadians, "not including those for birthdays, Christmas or other festive occasions".
Senior Canadian officials say the list is designed to exert political pressure on the US and make it take notice of how this will affect trade.
Asked by reporters if he was ready to start a trade war with its southern neighbour, Mr Trudeau said Canada was "ready for anything".
The EUEuropean Commission President Jean-Claude Juncker said he planned to take the US to the World Trade Organization over the American tariffs, a policy he called "totally unacceptable".
Meanwhile, EU Trade Commissioner Cecilia Malmstrom called the US measures a "dangerous game" (http://www.bbc.co.uk/news/business-44324565) and said the EU would not "stay silent".
The bloc released a list of tariffs (http://trade.ec.europa.eu/doclib/docs/2018/march/tradoc_156648.pdf) in March - 10 pages of US goods it plans to target:
Bourbon whiskey, orange juice and cranberries
Jeans, T-shirts and tobacco
Corn and other agricultural products
Steel and industrial products
Cosmetics, consumer goods, motorbikes and pleasure boats
Snuff and chewing tobacco
The aim is to have the maximum political effect. Kentucky, home to bourbon whiskey, is Senate majority leader Mitch McConnell's state.
Orange juice, meanwhile, is a major export of Florida - a key US swing state.
France's junior trade minister Jean-Baptiste Lemoyne said he expects EU counter-measures to be completed by mid-June.
MexicoAmerica's southern neighbour also swiftly released a list of products on which it would impose tariffs, "up to an amount comparable to the level of damage" of US tariffs.
Economy Minister Ildefonso Guajardo said in a radio interview that the measures would target US products from districts that would cause political difficulties for Mr Trump.
He said levies would be placed on the following: (https://www.gob.mx/se/articulos/mexico-impondra-medidas-equivalentes-a-diversos-productos-ante-las-medidas-proteccionistas-de-ee-uu-en-acero-y-aluminio-158765?idiom=es)
Flat steel, hot and cold foil products, and piping
Cold cuts, pork chops and sausages
Berries, grapes, apples and "various cheeses"
Lamps
Mr Guajardo said Mexico was the top buyer of US aluminium and the second-biggest buyer of US steel, and that "this kind of thing does not benefit anybody".
US tariffs could hit $4bn worth of trade between the two countries.
In 2009, Mexico imposed higher tariffs on dozens of US products such as apples, frozen potatoes and Christmas trees in a dispute over the access of Mexican trucks to US highways.
http://www.bbc.com/news/business-44320727
Pretty lame title for the BBC considering the lists above that apparently are not all-inclusive. Saw this one coming. We, the consumers, are going to pay for it.