25 % of the Canadian aluminum tariff is an act of self-harm-economic self-harm-related states.
The announcement of President Trump on Monday that it increases the tariffs to all steel and aluminum to 25 percent, was too well known for Canadians.
In 2018, when I was a Canadian Foreign Minister, the United States – our long -time friend, neighbor and military ally – stored Unauthorized tariffs on Canadian steel and aluminum under Chabkou and sincerely insult the pretext of national security.
Now, just four weeks to his second term, President Trump is again raising a global business order. First, he targeted Partners Canada and Mexico with a large 25 % of tariffs, of which we received temporary retribution. A few days later, he stored Steel and aluminum tariffs on us and the rest of the world.
I saw it to come. As Deputy Prime Minister and Minister of Finance, I understood the threat represented by the aggressive economic nationalism of Mr. Trump. Since he was elected, I have argued that Canada must prepare for the encouraged Trump 2.0, which was intended to use trade as a weapon to jam chaos and scared capital and investment from all other markets than from the United States.
Some Americans may feel that this approach can “properly” suit the current economic situation. The problem is that it will also harm the US economy. Higher costs of steel and aluminum supplies will damage manufacturers and consumers themselves, President Trump claims to support.
Canada is the largest source of aluminum for the United States, last year’s sending 3.2 million metric tons. Due to the intensive heat required for its production, aluminum is an electricity in physical form. This means that the Canadian aluminum tariff is an energy tax – at a time when the United States desperately needs more power to overcrowded the AI race with China.
Canadians must understand the cards we hold. And we have to be ready to play them.
In 2018, Canada stored The dollar retaliation for $ 16.6 billion in American steel, aluminum and other imports, intentionally targeting products from red states such as Florida Orange Juice and Wisconsin Cheese.
Mr. Trump does not have to worry about the objections of people in Canada – or Mexico or in the European Union or South Korea – but cares for American workers and businesses. If exporters feel compressed from tariffs with tit-for-pat, they begin to call the White House, the pressure on the administration to turn the course will grow.
Such feedback led to lifting Tarifs on Canada in 2019 and now it will work again. All countries producing steel and aluminum that interfere with these tariffs should store the retaliation of the dollar per dollar. We have to choose our goals carefully. One hundred percent of Teslas tariffs, deposited every country in the world, would be a good place to start.
The list of retaliation measures should be immediately published to allow maximum pressure to manage the US industry and the workers to focus on. These Trump tariffs are to enter into force on 12 March. Until then, Canada will have a new Prime Minister (I am one of the candidates) and this person must be ready to act immediately.
These new import taxes, known as section 232 tariffs, are a turn to Canada and the world, because they suggest that the United States makes a historical change in understanding those who are his friends and indeed whether he is interested in any friends at all .
On his credit was President Trump the first Western leader to acknowledge that Shock It is real for American workers that global financial imbalance focused on China is unsustainable and that Chinese dominance of global technology would endanger the United States.
The name of these facts, which has long been reluctant to recognize the international economic facility, helped Mr. Trump twice.
Here’s a rub. In fact, these problems will be much easier with American devoted friends, especially Canada. And at least before the last 10 days we wanted to join your fight.
After all, our workers and our industries suffered from Chinese shock as much as America. And we had our own problems with Beijing how President Trump should remember well.
America does not mean America first. The great balance of the global economy that President Trump is looking for is really achieved best in cooperation with traditional American allies.
However, if America, which controls approximately 25 percent of the global economy, is chasing a criminal trade war with Canada and its other allies, all of us will have no choice but to find other friends wherever we find them.
It is easy to understand why a superpower could be attracted by great insulation. However, it is sometimes tiring, time -consuming work of cooperation with friends, which will give Americans the best chance of re -capturing peace and prosperity that will achieve alliance builders of the “largest generation”.
Chrystia Freeland is a member of the Canadian Parliament, a former Deputy Prime Minister and a candidate for the leaders of the Liberal Party and the Prime Minister.
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