TIT-FOR-TAT

Canada Marks National Holiday With New Tariffs on U.S. Goods

The Canadian government marked the country’s national holiday on Sunday with new retaliatory tariffs on nearly $13 billion worth of U.S. products. More than 40 American steel products will now be subject to a 25-percent tariff, while about 80 products like whiskey, toffee, maple syrup, coffee beans, and strawberry jam were hit with a 10-percent tariff. The tit-for-tat move is meant to be directly proportional to President Trump’s new steel tariffs, which took effect on June 1 and are expected to be especially damaging to Canada. “I have made it very clear to the president that it is not something we relish doing but it is something that we absolutely will do,” Canadian Prime Minister Justin Trudeau said earlier this month. The Canadian government said it had tried numerous times to resolve the tariffs dispute with the U.S. trade representative before the measure took effect on July 1, but apparently to no avail. China and Mexico are also expected to unleash new tariffs on U.S. products later this month in response to Trump’s tariffs.