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Saturday, March 03, 2018

Canada, top exporter of steel and aluminum to U.S., ‘flabbergasted’ by Trump’s tariff proposals - The Washington Post



"OTTAWA — Canadians reacted with a mixture of anger, confusion and resignation this week to President Trump’s promise to hit U.S. imports of steel and aluminum with hefty tariffs, upending decades of economic cooperation and integration.



“We’re pretty consistently flabbergasted that Canada is at the top of the hit parade of trade villains” in Trump’s eyes, said Douglas Porter, chief economist at the Bank of Montreal.



Under the Trump policies announced Thursday, steel imported into the United States would be slapped with a 25 percent tariff and aluminum with a 10 percent tariff. The announcement sent shudders through world markets and prompted a global outcry, with European allies and others threatening retaliation.



Trump has often accused China of forcing U.S. steel and aluminum companies to fold by inundating the market with cheaper materials. But Canada is the largest exporter of steel and aluminum to the United States, supplying $7.2 billion of aluminum and $4.3 billion of steel to the United States last year..."



Canada, top exporter of steel and aluminum to U.S., ‘flabbergasted’ by Trump’s tariff proposals - The Washington Post

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