Canada, tariffs and Mark Carney
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The Maine senator faces a tough reelection bid in one of the states most affected by Trump’s trade war with the northern neighbor.
Japanese brewer Sapporo shifts production to US to avoid new trade tariffs. Japanese brewer Sapporo says it will move some beer production from Canada to the US after new tariffs on Canadian beer took effect on Tuesday.
TORONTO (AP) — Canadian Prime Minister Mark Carney said Tuesday that Canada would move faster to reduce its economic reliance on the United States as retaliatory tariffs took effect on about $20 billion worth of U.S. goods and the country braced for President Donald Trump’s response.
Canada is rolling out a flurry of new tariffs on US goods on Tuesday morning, adding levies of up to 50% on items like dairy and steel.
Steel and aluminum products imported from the U.S. face Canadian duties of up to 50%, potentially impacting pricing and North American supply chains. U.S. companies to watch include Nucor ( NUE ), Steel Dynamics ( STLD ), Cleveland-Cliffs ( CLF ), and Alcoa ( AA ). ETFs: ( SLX ), ( XME ), and ( XLB ).
Trump attacked Democrats in his Labor Day message, while Canadian Prime Minister Mark Carney focused on tariffs and trade.
Tariffs have increased manufacturing costs for Walla Walla’s wineries and cut off access to many foreign markets for local shops.
Canada's new retaliatory tariffs against the U.S. are in effect as of Tuesday, Sept. 8. Canadian leaders are warning their residents that the move will come at a cost, but the alternative would be worse.