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Canada welcomes US decision to drop aluminum tariff
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Top Stories |
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IANS | 16 Sep, 2020
Canada welcomed the US decision to drop tariff on Canadian aluminum imports.
At
a press conference in Ottawa Tuesday afternoon, Canadian Deputy Prime
Minister and Finance Minister Chrystia Freeland welcomed the decision.
"This is really a day when common sense has prevailed."
Freeland
stressed that the US decision was not a negotiated agreement with Canada
and the US government acted "unilaterally" and Canada does not accept
the imposition of quotas.
"Should tariffs be reimposed, Canada will retaliate with perfectly reciprocal dollar-for-dollar tariffs," Freeland said.
Meanwhile,
Canadian Minister of Small Business, Export Promotion and International
Trade Mary Ng said at the press conference that Canada did not concede
anything in exchange for the US decision. "It is a testament to the Team
Canada approach, as we all worked relentlessly to ensure these
unjustified tariffs on Canadian aluminum were removed."
US Trade
Representative (USTR) Robert Lighthizer announced Tuesday afternoon that
the United States has dropped its 10 per cent tariff on Canadian
aluminum.
"Average monthly imports are expected to decline 50 per
cent from the monthly average in the period of January through July,"
he said. "Based on these expectations, the United States will resume
duty-free treatment of non-alloyed, unwrought aluminum retrospective to
September 1, 2020."
"If actual shipments exceeded 105 percent of
the expected volume for any month during the four-month period, then the
United States will impose the 10 percent tariff retroactively on all
shipments made in that month," he added.
The US statement was announced Tuesday afternoon before Canada was set to unveil retaliatory measures on US imports.
On
Tuesday noon, Canadian Prime Minister Justin Trudeau said that his
government will unveil its retaliatory measures against the US tariff
later on Tuesday.
"We will be taking action to counter the unjust
tariffs put on Canadian aluminum by the United States. As I've said
many times we will always be there to defend Canadian workers, defend
our aluminum sector," Trudeau said in a statement.
Last month, US
President Donald Trump announced that he would impose a 10 per cent
tariff on Canadian aluminum during a campaign speech in Ohio, citing
national security concerns.
In response, the Trudeau government
responded quickly by saying that Canada "intends to swiftly impose
dollar-for-dollar countermeasures."
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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