Ottawa:
Canada has responded to the imposition of tariff of US President Donald Trump. Canada will now impose 25 percent tariffs on imported vehicles from America. It is believed to be the reply to the tariff of the US President Donald Trump implemented on Thursday. Canadian Prime Minister Mark Carney, using the Canadian brief name for the current North American Free Trade Agreement, announced “25 percent tariffs on all vehicles imported from the US, which are not in line with CUSMA.” His office told AFP that tariffs are going to be implemented on US vehicles worth US $ 5.7 billion in the coming days.
US President Donald Trump saved Canada to a large extent from the broad global tariffs announced on Wednesday. Washington has exempted goods to suit the US-Canada-Mexico Free Trade Agreement, which covers most products. Although Canada, one of America’s largest trading partners, is still facing tariffs on steel, aluminum and other products in addition to the fee on automobiles.
Carney said Trump’s trade war would “break the global economy.” He said, “The system of global trade in America on which Canada is dependent from the end of World War II … is over.”
He said, “In a period of 80 years, when the US assumed the reins of global economic leadership, formed an alliance contained in confidence and mutual honor, advocated free and open exchange of goods and services, it is over.” He described this development as a “tragedy”.
Earlier, Canada has imposed retaliation on US steel and aluminum imports worth 30 billion Canadian dollars and US steel and aluminum imports of $ 30 billion.
Carney and Trump spoke on the phone last week. They agreed that both countries should talk on the future of bilateral trade after the April 28 election of Canada.