ENGLISH ਪੰਜਾਬੀ हिंदी
Chicago booked.net
+35°F
Visitors
   
Impreza
YOUR REGION YOUR PAPER A SUPPORT FOR ALL COMMUNITIES

Our Followers: 13300947 Follow Us
   View Details << Back

US-Canada Tariff: US set to impose 50% tariffs on $20 billion in Canadian products

  The United States decided early Saturday to impose 50% tariffs on $20 billion in Canadian products after last-minute talks failed to resolve the latest rift in the already tense relationship between the historic allies.

In a statement read just before midnight in a press call with reporters, US Trade Representative Jamieson Greer said, “Tonight, Canada has refused to finalize the trade agreement under the terms agreed to earlier this week. Despite the US offer to Canada to obtain the best possible deal of any major exporter in our market, Canada’s new demands and withdrawal from other commitments have overturned the delicate balance achieved in recent days.”

Canadian Prime Minister Mark Carney responded, “The last-minute changes to the terms offered by the United States were unreasonable, economically unreasonable and call into question the credibility of any agreement.”

President Donald Trump’s import tariffs will affect about 50 percent of everything Canada sends to the United States each year, including products ranging from hockey sticks to tongue depressors.

But the political impact is likely to be greater than the economic damage. The two countries sold $880 billion worth of goods and services to each other last year. The tariffs were initially scheduled to take effect at 12:01 a.m. Wednesday. But Trump extended the deadline by three days to allow talks to continue, but the two countries still failed to reach a deal in time. (AP)
  LATEST UPDATES











© All rights Reserved. ADBHHUT MEDIA.