Trump announces new 250% tariff on Canada starting almost immediately [OP note: dairy only]
Trump announces new 250% tariff on Canada starting almost immediately [OP note: dairy only]
Trump is imposing a new tariff on Canada, just 24 hours after he announced he was pausing the 25% tariff on most Canadian goods. Newsweek's live blog is closed.
Trump is imposing a new tariff on Canada, just 24 hours after he announced he was pausing the 25% tariff on most imports.
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So in the usual US media tradition, no muance is included.
I assume the reasons for Canada's tariffs are the same as they were in 2018 for setting prices and the 'Canada already taxing at 250%' is referring to the max tariff after quotas are met. Of course the US retaliation won't be tied to a quota and would apply to all imports because we move being all or nothing.
https://checkyourfact.com/2018/06/11/fact-check-canada-270-percent-tariff-dairy/
Canada heavily regulates its dairy industry with a supply management system that impacts production and sets target prices for dairy products. As a part of that system, it uses set tariff rate quotas (TRQ) for imports. Dairy products imported before a quota on a product is met are subject low tariffs or no tariffs, while products imported after the quota are subject to tariffs ranging from 201.5 percent to 313.5 percent.
Bascially, Canada is putting tariffs on the excess imports that flood the market but a reasonable amount of product has very low or no tariffs. That seems perfectly reasonable to me, but then I don't buy into the line must go up mindset.
I don't think people have an issue with the reasoning. The problem is that this is the 3rd or 4th time in, what, 5 weeks, that Trump has threatened tariffs? And we've seen the damage that is flooding to the markets.
As an example, we don't have tariffs on wood right now, but because of the constant back and forth on it, suppliers have just gone ahead and kept their prices high to reflect the uncertainty of future sales. A 2x4, 10', has nearly doubled since the beginning of February until now, even though tariffs on wood imports never officially happened. Just the constant threats are fucking things up.
I was just pointing out the US 'equal tariffs' justification itself is a lie since Canada doesn't do blanket tariffs on all dairy imports and 250 is the highest possible.
Trump trying to weild them as threats and inconsistently following through is a big part of it too, but pointing his 'matching' tariffs are based on misleading numbers is also important.