President Trump on Monday signed three proclamations to impose 50% tariffs on some Canadian goods in response to what the White House called “discriminatory treatment of American products.”
“By doing so, President Trump is offsetting the burden and disadvantage on U.S. commerce from Canada’s discriminatory treatment of U.S. commerce and is leveling the playing field for crucial American exports—cars, alcohol, and dairy,” a fact sheet released by the White House read.
Trump signed the proclamations “pursuant to Section 338 of the Tariff Act of 1930.”
More from The New York Times:
“These Section 338 tariffs apply to all covered goods regardless of whether a good originates under the U.S.-Mexico-Canada Agreement (USMCA),” the fact sheet read.
“These Section 338 tariffs will not apply to energy, potash, products subject to tariffs under Section 232, and certain other goods, such as fish or critical minerals,” it continued.
“Canada imposes certain tariffs and quotas on cars imported to Canada from the U.S., but not on imports from other countries. Canada also administers these quotas in a way that compels U.S. auto companies to invest in production in Canada instead of the United States,” it added.
“Canada imposed an unfair tariff scheme on American cars. As a result, Canadian imports of U.S. cars fell ~22%, costing American industry BILLIONS,” the White House stated.
“President Trump won’t put up with Canada’s trade schemes. The U.S. will levy a 50% TARIFF on some Canadian products,” it added.
CNBC shared further:
Read the full White House fact sheet HERE.
The post President Trump Imposes 50% Tariffs On Numerous Canadian Goods, White House Says In Response To “Discriminatory Treatment” appeared first on 100PercentFedUp.com.
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[H/T 100PercentFedUp]
