Will Canada Retaliate

Will Canada Retaliate

AMM reported, “The Metals Service Center Institute (MSCI) asked Canadian Prime Minister Justin Trudeau and Minister of International Trade François-Philippe Champagne to reconsider retaliatory tariffs on steel and aluminum imports from the United States.”

The proposed Canadian actions are in response to the Section 232 tariffs placed on steel and aluminum imports from Canada, Mexico, and EU. Which the United States put into effect on June 1.

MSCI stated on June 18, “As MSCI members are well aware, from the beginning of the Trump administration’s Section 232 investigations, MSCI made it clear [North American Free Trade Agreement] trading partners should be exempt from those penalties and that the tariffs should be focused on non-market economies like China that routinely thwart international law.”

“By outlining the benefits of the US’ $1 trillion annual trading relationship with Canada and Mexico, MSCI’s NAFTA comments to the Office of the US Trade Representative last June make it clear what is at stake.”

Also, the MSCI previously requested President Trump reinstate the tariff exemptions for Canada and Mexico.

Canada is the top destination for US steel. Canada imported 402,093 tonnes in April 2018, according to US Commerce Department figures.

“MSCI’s request follows the opposite position taken from the United Steelworker, which called on Canadian officials to not wait until July 1 to launch retaliatory measures against the US,” reports the AMM.

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